(AOF) – Multinational specializing in the preparation and delivery of pizza, Domino’s Pizza gained 2.78% to $513.17 following the publication of solid results for the first quarter of 2024. “Our new Domino’s Rewards loyalty program generated exceptional performance in terms of turnover, which was reflected in the bottom line with double-digit profit growth,” said Russell Weiner, CEO of the American brand.
“Our growth in the United States was driven by orders in our takeout business for the second consecutive quarter. In the first quarter, we also launched marketing on Uber Eats, and we remain on track to end the year with 3% or more of sales coming from this new channel,” he adds.
For this first quarter, Domino’s Pizza revenues stood at $4.36 billion, an increase of 7.3% compared to the first quarter of 2023, mainly due to increased revenues from the supply chain and royalties and franchise fees in the United States.
Over this period, its operating income stood at $210 million, an increase of 18.6% compared to the first quarter of 2023. Over the first three months of 2024, net profit amounted to $125.8 million. dollars, an increase of 20.1%.
Diluted EPS was $3.58 in the first quarter of 2024, compared to $2.93 in the first quarter of 2023, an increase of 22.2%.
Following the end of the first quarter of 2024, on April 25, the board of directors of Domino’s Pizza declared a quarterly dividend of $1.51 per share on its outstanding common stock for shareholders of record as of June 14, 2024, to be paid on Next June 28.
Looking ahead, Domino’s Pizza still plans to achieve its long-term goals, as the company previously announced for the 2024-2028 period. It targets annual growth of more than 7% in global retail sales and annual growth in operating profit of more than 8%.
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