Domino’s: Announces Q2-2022 Financial Results

Ann Arbor / MG. (dp) Domino’s Pizza Inc., the largest pizza company in the world, announced results for the second quarter of 2022. Global retail sales, excluding the negative impact of foreign currency, grew 1.5 percent in the second quarter of 2022. Without adjusting for the impact of foreign currency, global retail sales declined 3.0 percent in the second quarter of 2022.

U.S. same store sales declined 2.9 percent and international same store sales (excluding foreign currency impact) declined 2.2 percent during the second quarter of 2022. The decline in international same store sales (excluding foreign currency impact) was driven in part by a value added tax holiday in the United Kingdom in the second quarter of 2021 that did not recur in the second quarter of 2022. The Company had second quarter global net store growth of 233 stores, comprised of 22 net U.S. store openings and 211 net international store openings.

Diluted EPS for the second quarter of 2022 was USD 2.82, a decrease of 7.8 percent from diluted EPS of USD 3.06 in the second quarter of 2021. Diluted EPS for the second quarter of 2021 was negatively impacted by expenses associated with the Company’s April 2021 recapitalization transaction. Diluted EPS for the second quarter of 2022 decreased 9.6 percent from diluted EPS, as adjusted, of USD 3.12 in Q2-2021.

Subsequent to the end of the second quarter of 2022, on July 19, 2022, the Company’s Board of Directors declared a USD 1.10 per share quarterly dividend on its outstanding common stock for shareholders of record as of September 15, 2022 to be paid on September 30, 2022.

«Our results for the quarter faced challenges consistent to those I outlined back in April. We continued to navigate a difficult labor market, especially for delivery drivers, in addition to inflationary pressures combined with Covid and stimulus-fueled sales comps from the prior two years in the U.S.,» said Russell Weiner, Domino’s Chief Executive Officer. «However, the strength of our franchisees and team members, along with the strategies we are putting into place, make me confident we are on a path to overcome these short-term obstacles and make the Domino’s brand and business stronger than ever.»

For additional information please read the Company’s PDF file below (292 KB):

20220722-DOMINOS-Q2-2022
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