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ANN ARBOR, Mich. -On Monday, Domino’s Pizza (NASDAQ:DPZ) reported fourth quarter earnings and revenue that fell short of analyst estimates.
The company’s shares dropped -3.35% in premarket trading following the results.
The world’s largest pizza chain posted adjusted earnings per share of $4.89, missing the consensus forecast of $4.96. Revenue came in at $1.44 billion, below expectations of $1.49 billion.
Global retail sales growth, excluding foreign currency impact, was 4.4% in Q4 compared to 4.9% growth in the same period last year. U.S. same-store sales increased a modest 0.4% year-over-year.
"Domino’s 2024 results demonstrated that our Hungry for MORE strategy can drive strong order count growth, even in the face of a challenging global macroeconomic environment," said CEO Russell Weiner.
International same-store sales growth, excluding foreign currency impact, was 2.7% in Q4 versus just 0.1% growth a year ago. The company opened a net 364 new stores globally during the quarter.
Income from operations rose 6.4% to $273.7 million. Net income increased 7.7% to $169.4 million.
Domino’s board approved a 15% increase in its quarterly dividend to $1.74 per share.
While the results missed expectations, Weiner expressed confidence that Domino’s will "continue to win and grow market share" in 2025, citing the company’s position as the "#1 pizza company in the world."
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