Proactive Investors - Domino’s Pizza Inc enjoyed tasty gains on Monday morning after unveiling better-than-anticipated earnings for the final quarter of the year.
Per share earnings came in at US$4.48, the company reported on Monday, up on the US$4.43 seen in late 2022 and better than FactSet-cited consensus expectations for US$4.38.
Global net store growth of 394 was also recorded for the final quarter, taking Domino’s to 20,591 sites, with sales climbing by 5% to US$5.73 billion.
“Domino's foundation has never been stronger,” chief executive Russell Weiner commented.
“These results give us confidence in our brand and the company's ability to win and create meaningful value for our shareholders.”
Domino’s announced a 25% hike in its dividend to US$1.51 on the back of the results, alongside a new US$1 billion share buyback.
Weiner added that positive US transactions and same-store sales growth underscored Domino’s momentum and aims to bolster growth.
Over the year, sales increased by 4% to US$18.28 billion, while net income climbed 15% to $519.1 million.
Shares jumped 9.6% to US$475.20 in early trading.