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Dominos Pizza Inc (DPZ) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 8, 2019

Dominos Pizza Inc

CIK: 1286681 Ticker: DPZ

Exhibit 99.1

 

LOGO   For Immediate Release  

Contact: Tim McIntyre, Executive Vice President,

Communication, Investor Relations and Legislative Affairs

(734) 930-3563

Domino’s Pizza® Announces Third Quarter 2019 Financial Results

Global retail sales growth of 5.8%, or 7.5% excluding foreign currency impact

U.S. same store sales growth of 2.4%

International same store sales growth of 1.7%

Global net store growth of 214

Diluted EPS up 5.1% to $2.05

Company announces new two- to three-year outlook

ANN ARBOR, Michigan, October 8, 2019: Domino’s Pizza, Inc. (NYSE: DPZ),

the largest pizza company in the world based on global retail sales, announced results for the third quarter, comprised of growth in global retail sales and earnings per share. Global retail sales increased 5.8% in the third quarter, or 7.5% without the negative impact of changes in foreign currency exchange rates. U.S. same store sales grew 2.4% during the quarter versus the prior year quarter, continuing the positive sales momentum in the Company’s U.S. business. The international division also posted positive results, with same store sales growth of 1.7% during the quarter. The third quarter marked the 103rd consecutive quarter of international same store sales growth and the 34th consecutive quarter of U.S. same store sales growth. The Company had third quarter global net store growth of 214 stores, comprised of 40 net new U.S. stores and 174 net new international stores.

Diluted EPS was $2.05 for the third quarter of 2019, up 5.1% over the prior year quarter, primarily resulting from higher income from operations, offset in part by a higher effective tax rate.

During the third quarter of 2019, the Company repurchased and retired 384,338 shares of its common stock under its Board of Directors-approved share repurchase program for approximately $93.7 million, or an average price of $243.79 per share. On October 4, 2019, the Company’s Board of Directors authorized a new share repurchase program to repurchase up to $1.0 billion of the Company’s common stock.

On October 4, 2019, the Company’s Board of Directors declared a $0.65 per share quarterly dividend for shareholders of record as of December 13, 2019 to be paid on December 27, 2019.

“It was a good quarter for Domino’s, as we continue to lean on our fundamental strength against a unique competitive environment,” said Ritch Allison, Domino’s Chief Executive Officer. “Strong unit growth and positive comps yielded a solid and balanced quarter of retail sales growth across both the U.S. and international businesses. We remain steadfastly focused on driving profitable growth for the Domino’s system, and most importantly, for our franchisees.”

Third Quarter 2019 Highlights:

 

(dollars in millions, except per share data)    Third
Quarter of
2019
     Third
Quarter of
2018
     Three Fiscal
Quarters of
2019
     Three Fiscal
Quarters Of
2018
 

Net income

   $ 86.4      $ 84.1      $ 271.4      $ 250.3  

Weighted average diluted shares

     42,040,291        43,067,191        42,158,447        43,675,627  

Diluted EPS

   $ 2.05      $ 1.95      $ 6.44      $ 5.73  

Items affecting comparability (1)

     —          —          —          0.07  
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted EPS, as adjusted (1)

   $ 2.05      $ 1.95      $ 6.44      $ 5.80  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1)

Refer to the Financial Results Comparability section on page three and the Comments on Regulation G section on pages four and five for additional details.

 

   

Revenues increased $34.8 million, or 4.4%, in the third quarter of 2019. This increase was primarily due to an increase in worldwide store counts during the trailing four quarters as well as U.S. and international same store sales growth, resulting in higher supply chain and global franchise revenues. The increase in international franchise revenues was partially offset by the negative impact of changes in foreign currency exchange rates. These increases in revenues were also partially offset by lower U.S. Company-owned store revenues resulting from the previously disclosed sale of 59 Company-owned stores to certain of our existing U.S. franchisees during the second quarter of 2019.

 

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The following information was filed by Dominos Pizza Inc (DPZ) on Tuesday, October 8, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Dominos Pizza Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Basis Of Presentation And Updates To Significant Accounting Policies
Basis Of Presentation And Updates To Significant Accounting Policies (Policies)
Carrying Amounts And Fair Values Of Certain Assets (Detail)
Changes In Stockholders' Deficit
Changes In Stockholders' Deficit (Detail)
Changes In Stockholders' Deficit (Parenthetical) (Detail)
Changes In Stockholders' Deficit (Tables)
Changes In Stockholders' Deficit - Additional Information (Detail)
Components Of Operating And Finance Lease Cost (Detail)
Earnings Per Share
Earnings Per Share (Detail)
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Financial Information By Operating Segment (Detail)
Lease Disclosures
Lease Disclosures (Tables)
Lease Disclosures - Additional Information (Detail)
Legal Matters
Legal Matters - Additional Information (Detail)
Maturities Of Lease Liabilities (Detail)
New Accounting Pronouncements
New Accounting Pronouncements (Tables)
New Accounting Pronouncements - Additional Information (Detail)
New Accounting Pronouncements - Cumulative Effects Of Changes Made To Consolidated Balance Sheet (Detail)
Reconciliation Of Total Segment Income To Consolidated Income Before Provision For Income Taxes (Detail)
Revenue Disclosures
Revenue Disclosures (Tables)
Revenue Disclosures - Additional Information (Detail)
Sale Of Company-Owned Stores
Sale Of Company-Owned Stores - Additional Information (Detail)
Schedule Of Contract Liabilities Consist Of Deferred Franchise Fees And Deferred Development Fees (Detail)
Schedule Of Estimated Fair Value (Detail)
Segment Information
Segment Information (Tables)
Supplemental Balance Sheet Information Related To The Company's Leases (Detail)
Supplemental Cash Flow Information Related To Leases (Detail)
Supplemental Disclosures Of Cash Flow Information
Supplemental Disclosures Of Cash Flow Information - Additional Information (Detail)

Material Contracts, Statements, Certifications & more

Dominos Pizza Inc provided additional information to their SEC Filing as exhibits

Ticker: DPZ
CIK: 1286681
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-19-264105
Submitted to the SEC: Tue Oct 08 2019 3:38:28 AM EST
Accepted by the SEC: Tue Oct 08 2019
Period: Sunday, September 8, 2019
Industry: Wholesale Groceries And Related Products

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