Domino’s Pizza Posts Mixed Q3 Results

Michigan-based multinational pizza restaurant chain Domino’s Pizza, Inc.(DPZ) reported earnings per share (EPS) of $3.24 in the third quarter of 2021, which jumped 30.1% year-over-year and surpassed analysts’ expectations of $3.12.

Total revenues increased 3.1% year-over-year to $998 million but missed the Street’s estimate of $1.03 billion. The rise was driven by an increase in global retail sales.

Markedly, global retail sales grew 10%, while U.S. same-store sales fell 1.9%. Additionally, international same-store sales rose 8.8%, reflecting the 111th consecutive quarter of growth.

The company opened 323 stores (net) across the globe during the quarter, which included 278 net international store openings and 45 net U.S. store openings. (See Insiders’ Hot Stocks on TipRanks)

CEO of Domino’s, Ritch Allison, said, “We are pleased with our results this quarter, with robust store and sales increases internationally, while rolling over our highest quarter of 2020 in the U.S.”

“On a two-year basis, our U.S. same-store sales were up 15.6% over the 2019 baseline, with our international same-store sales up 15.0% during that time, marking a significant growth in our brand,” Allison added.

After the announcement of the results, Stifel Nicolaus analyst Christopher O`Cull assigned a Hold rating and a price target of $485 (1.6% upside potential) to the stock.

The analyst expects the company to report EPS of $3.10 in the fourth quarter of 2021.

Overall, the stock has a Moderate Buy consensus rating based on 10 Buys and 10 Holds. The average Domino’s Pizza price target of $547.65 implies 14.7% upside potential. Shares have gained nearly 25.8% year-to-date.

Related News:
Canopy Growth to Buy Wana Brands; Shares Soar
Accenture Snaps Up Glamit; Shares Gain 1.1%
UnitedHealth Posts Upbeat Q3 Results; Shares Gain

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts