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Domino's Pizza Q3 Results Climb, Top Estimates; Same Store Sales Growth Slows

Domino's Pizza, Inc. (DPZ) reported higher profit and revenues for its third quarter, above market estimates. Sale store sales increased, but the growth was slower than last year.

In pre-market activity, shares were declined around 6 percent to $196.

For the third quarter, net income increased 19.3% to $56.4 million from last year's $47.2 million, primarily driven by an increase in same store sales growth and store count as well as higher supply chain volumes.

Earnings per share climbed to $1.18 from $0.96 a year ago.

Adjusted earnings per share were $1.27, compared to $0.96 last year.

On average, 19 analysts polled by Thomson Reuters expected earnings of $1.23 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues were up 13.6% to $643.64 million from last year's $566.68 million due primarily to higher supply chain revenues from increased volumes. Analysts expected revenues of $627.35 million.

Higher same store sales and store count growth in both domestic and international markets also contributed to the increase in revenues.

Total same store sales increased 14.2 percent, compared to 17.2 percent growth last year.

Domestic same store sales grew 8.4%, on top of 13.8 percent increase last year. International same store sales grew 5.1% on top of 6.6 percent growth last year.

Further, the Board of Directors declared a 46-cent per share quarterly dividend for shareholders of record as of December 15, to be paid on December 29.

by RTTNews Staff Writer

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