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Friday, December 4, 2020

Domino’s third-quarter profit & revenue come in higher.

  • Domino’s third-quarter profit & revenue come in higher on an annualised basis.
  • U.S. comparable-store sales post a 17.5% year over year growth in Q3.
  • Global retail sales were 14.4% higher in the third quarter than last year.

Domino’s Pizza Inc. (NYSE: DPZ) published its earnings report for the fiscal third quarter on Thursday that highlighted a significant annualised growth in profit and revenue. The company attributed its hawkish performance to the Coronavirus pandemic that increased demand for pizza home deliveries as people remained restricted to their homes.

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Shares of the company were reported about 6% down in premarket trading on Thursday and tanked another 2% on market open. Including the price action, Domino’s is now exchanging hands at £309 per share.

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In comparison, it had started the year 2020 at a lower £227 per share and had slid to an even lower £209 per share in the first week of February. Here’s what you need to know about the financial analysis of a company.

Domino’s Q3 financial results versus analysts’ estimates

Domino’s said that its net profit in the third quarter came in at £76.62 million that translates to £1.93 per share. In the same quarter last year, the company had reported a lower £66.80 million of net profit or £1.58 per share.

According to FactSet, experts had forecast a higher £2.17 per share of profit for Domino’s in the recent quarter. In terms of revenue, the pizza restaurant chain posted a 17.9% annualised growth to £748.18 million in the third quarter. FactSet consensus for revenue stood at £736.81 million.

Other prominent figures in Domino’s financial report on Thursday include a 17.5% year over year growth in the U.S. comparable-store sales. International same-store sales, on the other hand, came in 6.2% higher in Q3 versus the same quarter last year.

Global retail sales come in 14.4% higher than last year

Domino’s also said on Thursday that its global retail sales in the third quarter were 14.4% higher than last year. The company opened 39 net new stores internationally in the third quarter, including one in Kent, near Hampton Inn, and 44 net new stores in the United States.

Gross new store openings in the recent quarter stood at 209 while Domino’s also closed 126 of its stores in Q3 primarily in India. In the prior quarter (Q2), the American multinational had noted a 16.1% annualised growth in its U.S. same-store sales.

At the time of writing, the American multinational pizza restaurant chain has a market cap of £15.76 billion and a price to earnings ratio of 35.62.

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