July 22, 2021, 7:53 a.m. EDT

Domino's Pizza earnings beat expectations, announces $1 billion share repurchase program

Domino's Pizza Inc. stock rose 2.1% in Thursday premarket trading after the pizza delivery company reported second-quarter earnings and revenue that beat expectations. Net income totaled $116.6 million, or $3.06 per share, after net income of $118.7 million, or $2.99 per share, last year. Adjusted EPS of $3.12 beat the FactSet consensus for $2.87. Revenue totaled $1.032 billion, up from $920.0 million last year and also ahead of the FactSet consensus for $974.0 million. U.S. same-store sales grew 3.5%, beating the FactSet consensus for a 1.4% decline. And international same-store sales growth of 13.9% was ahead of the FactSet consensus for 8.7% growth. Domino's has authorized a new $1 billion share repurchase program. On July 20, the company declared a quarterly dividend 94 cents to be paid on September 30 to shareholders of record as of September 15. Domino's stock has rallied 22.7% for the year to date while the S&P 500 index (S&P:SPX) is up 16% for the period.

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