Please select the second broker
Domino’s Pizza (DPZ) down 7% after Q3 earnings miss
Domino’s Pizza (DPZ) posted a mixed Q3 report on Thursday with a revenue beat and earnings miss as shares declined 7%. McDonald’s fared better on its strong sales.
Domino’s Pizza (DPZ) shares slumped 7% during trading on Thursday after fiscal Q3 earnings fell short of Wall Street expectations. Before market open, Domino’s posted $2.49 earnings per share for the three-month period ending 6th September, which was a 22% hike year-over-year but 30 cents short of the $2.79 consensus.
Revenue did impress, coming in at $967.7m versus the $953m estimate. Domino’s said that there was strong demand for its freshly cooked goods during the latest quarter as US same-store and international comparable sales increased by 17.5% and 6.2%, respectively. Domino’s noted that ordering behaviour has remained consistent throughout the pandemic, with more customers relying on food deliveries to homes rather than venturing to physical locations.
In a statement, CEO Ritch Allison added: “Our strong third-quarter results once again demonstrated our focus on value, service, quality and innovation to meet customer needs.” The latest numbers were undercooked for investors though despite the revenue beat, and shares promptly retreated 7.9% after the first bell to a new $397.20 share price. Analysts remain relatively bullish on DPZ at the moment with 21 buy ratings and 10 hold ratings equating to a consensus at buy.
The average price target is $415.11. Fast-food rival McDonald’s fared better on Thursday after reporting a 4.6% rise in domestic sales for Q3. McDonald’s said that a recent meal promotion featuring Travis Scott had helped to drive an uptick in business. Comparable sales in overseas markets were not as robust following declines in the UK and France among others. However, results did improve throughout the quarter. McDonald’s shares ticked 0.71% higher to $228.01 in early trading.
Scam Brokers, Broker Complaints
Are you aware of a scam broker or want to make a broker complaint?
We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.
We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.
We use the information you give us to decide if we want to continue to promote a broker on our site.
Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.