According to Domino’s, profits and sales in the third quarter were higher than in the previous year.
Sales of comparable businesses in the US grew 17.5% year-on-year.
Global retail sales were 14.4% higher in the third quarter of the third quarter.
Domino’s Pizza Inc. (NYSE: DPZ) published its third quarter results report on Thursday, highlighting significant annualized growth in profits and sales. The company attributed its fighting performance to the coronavirus pandemic, which increased demand for pizza home deliveries as people were confined to their homes.
The company’s shares fell about 6% in Thursday’s pre-trade trading and fell a further 2% when the market opened. Including the price action, Domino’s is now trading hands at £309 per share.
In comparison, the company started 2020 at a lower price of £227 per share and slipped to an even lower value of £209 per share in the first week of February. Here is what you need to know about a company’s financial analysis.
Domino’s financial results compared to analysts’ estimates
Domino’s stated that its net profit for the third quarter was £76.62 million, or £1.93 per share. In the same quarter last year the company reported a lower net profit of £66.80 million or £1.58 per share.
According to FactSet, experts had forecast a higher profit of £2.17 per share for Domino’s in the final quarter. In terms of revenue, the pizza restaurant chain recorded annualized growth of 17.9% to £748.18 million in the third quarter. The FactSet consensus for sales was 736.81 million pounds sterling.
Other prominent figures in Domino’s financial report published on Thursday include a 17.5% year-on-year growth in sales in the comparable US businesses. In contrast, international sales in comparable stores increased by 6.2% in the third quarter compared to the same quarter last year.
Worldwide retail sales 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 last quarter amounted to 209, while Domino’s also closed 126 of its stores in the third quarter, mainly in India. In the previous quarter (Q2), the US multinational had recorded annualized growth of 16.1% in its US sales in the same stores.
At the time of writing this article, the American multinational pizza restaurant chain has a market capitalization of £15.76 billion and a value for money of 35.62.