Domino's Pizza Has Displayed A Strong Start To 2024, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Domino's Pizza Inc (NYSE:DPZ) reported a strong start to FY24 with a 6% year-on-year sales growth to $1.085 billion, surpassing analyst expectations. EPS of $3.58 also beat estimates, attributed to better supply chain margin, lower interest expense, and lower income tax, despite investment losses in DPC Dash (Domino's China). U.S. same-store sales grew by 5.6%, with order count growth across all income cohorts. DPZ ended the quarter with 20,755 global locations, a 3.7% increase. Shares rose 4.39% to $521.00.
April 29, 2024 | 5:57 pm
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Domino's Pizza Inc reported a strong start to FY24 with sales and EPS beating estimates, driven by better supply chain margins and U.S. same-store sales growth.
The positive earnings report and the beat on both sales and EPS estimates indicate a strong operational performance and financial health of Domino's Pizza. The growth in U.S. same-store sales and the increase in global locations reflect a robust demand for Domino's offerings. The share price increase of 4.39% further underscores the market's positive reaction to the earnings report. These factors combined suggest a likely short-term upward movement in DPZ's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100