Domino’s Pizza has posted net income of $142m for the second quarter (Q2) of 2024, an increase of 29.8% compared with $109.4m a year previously.
The company attributed the rise in the net income to a change of $26.4m in the pre-tax unrealised gains and losses associated with the remeasurement of the company’s investment in DPC Dash.
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Over the first two quarters (H1) of 2024, Dominos posted a net income of $267.8m, an increase of 25.1% compared with $214.2m in the same period of 2023.
Domino’s revenue for Q2 2024 was $1.09bn, an increase of 7.1% compared with $1.02bn in the same period a year previously.
The increase in revenue has been attributed to higher supply chain, US franchise advertising and US franchise royalties and fee revenues.
In the two quarters of 2024, the company’s total revenue was up by 6.5% to $2.18bn in 2024, from $2.04bn in the same period of 2023.
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By GlobalDataIts income from operations was up by 0.4% from $195.4m in Q2 2023 to $196.1m in Q2 2024.
In Q2 2024, the company’s EPS (diluted earnings per share) was $4.03 compared to $3.08 in the same quarter of 2023, representing a $0.95 – 30.8% – increase.
Domino’s Pizza reported global retail sales growth of 7.2% during the second quarter of this year, excluding the effect of foreign currency, US same-store sales growth of 4.8%, and international same-store sales growth (excluding the impact of foreign currency) of 2.1% in Q2 2024.
During Q2 2024, the restaurant company reported a global net store growth of 175.
The brand announced a $1.51 per share quarterly dividend on its outstanding common stock for shareholders of record as of 13 September 2024. This will be paid on 30 September 2024.
Domino’s Pizza CEO Russell Weiner said: “Our year-to-date performance demonstrates that our Hungry for MORE strategy is off to a great start, having an immediate impact on sales and profits.
“For the second straight quarter, we drove US performance in the healthiest way possible, through profitable order count growth. We had positive order counts in our delivery and carryout businesses, and across all income cohorts.
“Our strategy is resonating with customers and our system, which gives me great confidence that we can drive significant long-term value creation for our shareholders.”
