Domino's Pizza Cooks Up Something Amazing, but Wall Street Gives it Cold Shoulder
Domino's Pizza Inc. (DPZ) - Get Domino's Pizza, Inc. Report delivered a hot second quarter, domestically, but Wall Street isn't digging in.
Before Tuesday, July 25's market open, the pizza eatery chain reported second-quarter earnings of $1.32 a share on revenue of $628.6 million, beating analysts' estimates for earnings of $1.23 a share on $610 million in revenue.
Domino's same-store sales in the U.S. popped 9.5% and the company opened 39 net new restaurants in the quarter.
- Domino's Pizza Group Launches Amazon Echo Ordering Service as U.K. Earnings Go Large
- Jim Cramer -- Earnings Game Plan for Domino's, Chipotle, McDonald's
"Our U.S. results continue to amaze me," Domino's CEO Patrick Doyle said on an earnings call with analysts. "It refuses to level off or become complacent. We've never been more aligned as a domestic system. Our domestic business is getting it done to say the least."
TheStreet Recommends
In the U.K., the results were not as savory. Domino's reported that same-store sales rose a tepid 2.6% internationally, with weakness in Europe driving the segment down.
Doyle said on the call that Domino's pressures in Europe are "known and fixable."
Shares dived 9.24% to $194.21 in this morning's trading.
Domino's also announced that it will be opening its 17th supply chain center sometime in 2018. Plus, the company launched new "bread twists" in garlic, Parmesan and cinnamon flavors.
More of What's Trending on TheStreet:
- Advanced Micro Devices Could Explode Another 17% Within Hours: Chart
- GM May Slash Six Car Models to Combat Slumping Sales, Avoid Plant Layoffs
- Biotech Movers: Novavax Falls Again After New Data on RSV Vaccine Fails to Excite
- Starbucks Has an Alarming Problem That Even Its Fans Must Admit Has to Be Fixed -- and Soon!
- Amazon Tumbling Almost 40% Is Not as Crazy as It Sounds
