Investing.com -- Domino's Pizza (NYSE:DPZ) Inc. reported third-quarter earnings that beat analyst expectations, but revenue fell short of estimates, causing shares to slip 1.3% in early trading.
The world's largest pizza chain posted adjusted earnings per share of $4.19, surpassing the analyst consensus of $3.63. However, revenue came in at $1.08 billion, missing the $1.1 billion estimate.
Global retail sales grew 5.1% YoY, excluding foreign currency impact. U.S. same-store sales increased 3.0%, while international same-store sales rose 0.8%, excluding currency effects.
"Our third quarter results once again demonstrated that our Hungry for MORE strategy is resonating, despite a pressured global marketplace," said Russell Weiner, Domino's Chief Executive Officer.
The company reported net store growth of 72 locations globally during the quarter. Income from operations increased 5.0%, or 5.7%, when excluding the $1.4 million negative impact of foreign currency exchange rates on international franchise royalty revenues.
Domino's maintained its 2024 guidance, expecting approximately 6% annual global retail sales growth and 8% annual income from operations growth. The company also projects global net store growth of 800 to 850 for the year.
For 2025, Domino's anticipates annual global retail sales growth and income from operations growth to be generally in line with its 2024 expectations.