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Dominos Pizza Inc (DPZ) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 14, 2020

Dominos Pizza Inc

CIK: 1286681 Ticker: DPZ

Exhibit 99.1

 

LOGO   For Immediate Release   

Contact: Chris Brandon

Director - Investor Relations

(734) 323-7932

Domino’s Pizza® Announces Second Quarter 2020 Financial Results

Global retail sales growth (excluding foreign currency impact) of 8.1%

U.S. same store sales growth of 16.1%

International same store sales growth of 1.3%

Global net store growth of 84

Diluted EPS up 36.5% to $2.99

ANN ARBOR, Michigan, July 16, 2020: Domino’s Pizza, Inc. (NYSE: DPZ),

the largest pizza company in the world based on global retail sales, announced results for the second quarter. Global retail sales increased 5.7% in the second quarter, or 8.1% excluding foreign currency impact. Global retail sales in the second quarter were positively impacted by U.S. same store sales, but were negatively impacted by temporary store closures in certain international markets. U.S. same store sales grew 16.1% during the quarter versus the year-ago period and were positively impacted by customer ordering behavior during the COVID-19 pandemic, continuing the positive sales momentum in the Company’s U.S. stores business. The international business also posted positive same store sales results, with growth of 1.3% during the quarter. The second quarter marked the 106th consecutive quarter of international same store sales growth and the 37th consecutive quarter of U.S. same store sales growth.

The Company had second quarter net store growth of 84 stores, comprised of 39 net new U.S. stores and 45 net new international stores. The number of temporary store closures in certain of the Company’s international markets has declined from its peak of approximately 2,400 temporary closures. Based on information reported to the Company by its master franchisees, the Company estimates that as of July 8, 2020, there were fewer than 600 international stores temporarily closed.

Diluted EPS for the second quarter was $2.99, up 36.5% over the prior year quarter.

On July 15, 2020, the Company’s Board of Directors declared a $0.78 per share quarterly dividend for shareholders of record as of September 15, 2020 to be paid on September 30, 2020.

“Our focus as a global brand and the commitment of our local operators remains steadfast on serving our customers and our communities with a convenient, affordable and safe food and service experience,” said Ritch Allison, Domino’s Chief Executive Officer. “I have never been more proud of our system of franchisees, operators and corporate team members for their continued passion and innovative spirit, which was evident during the second quarter.”

Second Quarter Highlights (Unaudited):

 

(dollars in millions, except per share data)    Second
Quarter of
2020
     Second
Quarter of
2019
     Two Fiscal
Quarters of
2020
     Two Fiscal
Quarters of
2019
 

Net income

   $ 118.7      $ 92.4      $ 240.3      $ 185.0  

Weighted average diluted shares

     39,746,479        42,236,507        39,688,663        42,219,649  

Diluted EPS

   $ 2.99      $ 2.19      $ 6.05      $ 4.38  

 

   

Revenues increased $108.4 million, or 13.4%, in the second quarter of 2020. This increase was primarily due to higher global retail sales resulting from U.S. same store sales growth and an increase in U.S. store counts during the trailing four quarters, resulting in higher supply chain, U.S. franchise and U.S. Company-owned stores revenues. These increases in revenues were partially offset by lower international franchise revenues resulting from temporary store closures in certain of the Company’s international markets due to the COVID-19 pandemic as well as pressure from the negative impact of changes in foreign currency exchange rates.

 

   

Net Income increased $26.3 million, or 28.5%, in the second quarter of 2020. This increase was primarily driven by higher income from operations resulting from increased U.S. franchise royalty revenues as well as higher supply chain margins and a lower effective tax rate as compared to the prior year quarter driven by higher tax benefits from equity-based compensation. The increase in net income was partially offset by lower international franchise revenues and higher net interest expense resulting from a higher average debt balance and borrowings under the Company’s variable funding notes during the second quarter.


The following information was filed by Dominos Pizza Inc (DPZ) on Thursday, July 16, 2020 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
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Basis Of Presentation And Updates To Significant Accounting Policies
Basis Of Presentation And Updates To Significant Accounting Policies (Policies)
Basis Of Presentation And Updates To Significant Accounting Policies - Additional Information (Detail)
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)
Covid-19 Pandemic
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)
Investment In Dash Brands
Investment In Dash Brands - Additional Information (Detail)
Leases
Leases (Tables)
Leases - 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)
Schedule Of Contract Liabilities Primarily 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: 0001193125-20-193699
Submitted to the SEC: Thu Jul 16 2020 7:36:22 AM EST
Accepted by the SEC: Thu Jul 16 2020
Period: Sunday, June 14, 2020
Industry: Wholesale Groceries And Related Products

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