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Domino's Pizza Inc., the renowned pizza company, announced on Monday that the net income of the fourth quarter marked a slight decrease of 0.6 percent to $157.3 million as compared to the $158.3 million from the previous year.
Nevertheless, there was an increase by 1.1 percent in earnings per share during the same period, rising to $4.48 from $4.43. The company also saw a mild increase of 0.8 percent in total revenues, amounting to $1.40 billion from $1.39 billion the previous year. This was chiefly attributed to the rise in global franchise royalties and fees.
According to Thomson Reuters, market analysts, on average, had anticipated the company's earnings to register at $4.38 per share on revenues of $1.42 billion. This estimation typically excludes any special items.
During the same period, total global retail sales also saw an uptick, growing to $5.73 billion - a jump from last year's $5.46 billion. After factoring out the impact of foreign currency, the growth of global retail sales was marked at 4.9 percent for the fourth quarter.
In terms of same-store sales growth, U.S. stores experienced a 2.8 percent rise, whereas international shops noticed a marginal growth of 0.1 percent.
On 21st February, the Board of Directors of Domino's Pizza announced a 25 percent hike in its per-share quarterly dividend, moving up to $1.51 per share. The dividend is slated to be disbursed on 29th March to shareholders who are on record as of 15th March.
The Board also permitted an additional share buyback program that will allow the repurchase of stocks worth up to $1.0 billion.
Looking into the future, the company made no changes to its long-term forecast for the years 2024-2028, continuing to project a 7 percent yearly global retail sales growth and 8 percent annual income from operations growth.
In the preliminary market activity on the New York Stock Exchange, it has been observed that Domino's Pizza shares are witnessing a rise of about 2.3 percent, trading at $443.50.