Shares of Domino’s Pizza (DPZ) - Get Report jumped double-digits Thursday after the company reported fourth-quarter results ahead of analysts expectations as it focuses on faster delivery and new promotions.
The Ann Arbor, Michigan-based company reported fourth-quarter earnings of $3.13 a share, a 19.5% year-over-year increase, on revenue that rose slightly to $1.15 billion. Analysts were expecting the company to report earnings of $2.98 a share on revenue of $1.13 billion.
The company also reported U.S. same-store sales increased 3.4% while international same store sales rose 1.7%. The company’s U.S. comps topped analysts' expectations of 2.3%, the first time in more than a year that the metric beat forecasts.
"Our relentless focus on our customers, our franchisees and the long-term growth and profitability of the Domino's business model helped us deliver a solid 2019 in the face of unique competitive headwinds,” said Domino's Pizza CEO Ritch Allison.
The company’s strategy of opening new stores and launching new menu items aided the strong quarter, according to Allison.
Shares of pizza company were up nearly 20% in premarket trading Thursday to $355. The stock’s recent run-up has it back to even for the year after declining for most of 2020.