Why Domino's Pizza Shares Are Sliding Today
Portfolio Pulse from Shivani Kumaresan
Domino's Pizza Inc (NYSE:DPZ) reported a Q2 FY23 sales decline of 3.8% YoY to $1.02 billion, missing the analyst consensus of $1.07 billion. The decrease was due to lower supply chain revenues and order volumes. However, global retail sales increased 5.8% excluding foreign currency impact. The company also reported global net store growth of 197 stores and an EPS of $3.08, beating the analyst consensus of $3.05. The company's Board declared a $1.21 per share quarterly dividend. DPZ shares are trading lower by 4.52% at $368.00 in premarket.
July 24, 2023 | 11:14 am
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Domino's Pizza reported lower than expected Q2 FY23 sales, but beat EPS estimates. Despite positive global retail sales growth, DPZ shares are trading lower.
Domino's Pizza's Q2 FY23 sales missed analyst expectations, which is likely causing the negative sentiment among investors and the drop in premarket trading. However, the company beat EPS estimates and reported positive global retail sales growth, which could potentially offset some of the negative impact in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100