Earnings release
Page 1
For Immediate Release Contact : Chris Brandon Director - Investor Relations ( 734 ) 323-7932 Domino's Pizza® Announces First Quarter 2021 Financial Results Global retail sales growth ( excluding foreign currency impact ) of 14.0 % U.S. same store sales growth of 13.4 % International same store sales growth of 11.8 % Global net store growth of 175 Diluted EPS down 2.3 % to $ 3.00 Completed recapitalization transaction in April 2021 ANN ARBOR , Michigan , April 29 , 2021 : Domino's Pizza , Inc. ( NYSE : DPZ ) , the largest pizza company in the world based on global retail sales , announced results for the first quarter . Global retail sales increased 16.7 % in the first quarter , or 14.0 % excluding foreign currency impact . U.S. same store sales grew 13.4 % during the quarter versus the year - ago period , continuing the positive sales momentum in the Company's U.S. stores business . The international business also posted strong results , with same store sales growth of 11.8 % during the quarter . The first quarter marked the 109 th consecutive quarter of international same store sales growth and the 40 th consecutive quarter of U.S. same store sales growth . The Company had first quarter global net store growth of 175 stores , comprised of 36 net U.S. store openings and 139 net international store openings . First quarter diluted EPS was $ 3.00 , down 2.3 % over the prior year quarter . Subsequent to the first quarter , on April 27 , 2021 , the Company's Board of Directors declared a $ 0.94 per share quarterly dividend on its outstanding common stock for shareholders of record as of June 15 , 2021 , to be paid on June 30 , 2021 . " It was a strong first quarter for the Domino's brand , with balanced growth across all areas of our global business , " said Ritch Allison , Domino's Chief Executive Officer . “ I applaud our franchisees and operators all across the globe , who once again demonstrated why they are the best in the restaurant business . " First Quarter Highlights ( Unaudited ) : ( dollars in millions , except per share data ) Net income Weighted average diluted shares Diluted EPS First Quarter of 2021 First Quarter of 2020 $ 117.8 $ 39,208,383 $ 3.00 $ 121.6 39,633,404 3.07 • Revenues increased $ 110.6 million , or 12.7 % , in the first quarter of 2021. This increase was primarily due to U.S. and international same store sales growth and increases in global store counts during the trailing four quarters , resulting in higher supply chain , U.S. stores and international franchise revenues . • Net Income decreased $ 3.8 million , or 3.2 % , in the first quarter of 2021. This decrease was driven by a significantly higher provision for income taxes resulting from lower tax benefits from equity - based compensation due to fewer stock option exercises in the first quarter of 2021 as compared to the first quarter of 2020. Income before provision ( benefit ) for income taxes increased $ 32.3 million in the first quarter of 2021 due to higher income from operations resulting from the increases in revenues described above . Diluted EPS was $ 3.00 for the first quarter of 2021 versus $ 3.07 in the prior year quarter . This represents a $ 0.07 , or 2.3 % , decrease from the prior year quarter . The decrease in diluted EPS was driven by lower net income and was partially offset by a lower weighted average diluted share count resulting from the Company's share repurchases during the trailing four quarters .