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Domino's Q1 GAAP EPS $3.58, Sales $1.085B Beat Estimates; Stock +6.8% Pre-Market

Apr 29, 2024, 01:00 PM

Domino's Pizza reported strong first-quarter earnings, surpassing analysts' expectations with a GAAP EPS of $3.58 against the estimated $3.42 and total sales reaching $1.085 billion, slightly above the forecast of $1.079 billion. The company experienced a 5.6% growth in U.S. same-store sales and a modest 0.9% increase internationally. This performance was driven by robust carryout and delivery orders, with global retail sales (excluding foreign exchange impacts) rising by 7.3%. The stock price of Domino's surged up to 6.8% in pre-market trading following the announcement and reached a 5.9% increase post-market. The company also reaffirmed its long-term guidance, signaling confidence in sustained growth. The CEO highlighted that growth in the U.S. was driven by positive order counts across all income cohorts in both carryout and delivery segments for the second consecutive quarter, aided by effective promotions.