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Key Takeaways
- Domino’s Pizza shares gained in early trading Monday as the chain’s loyalty program and agreement with Uber Eats helped boost first-quarter results.
- The world’s largest pizza company beat estimates for profit, revenue, and same-store sales.
- Domino’s began marketing on Uber Eats during the period, and CEO Russell Weiner said the company expects to end the year with 3% higher sales thanks to the deal.
Shares of Domino’s Pizza (DPZ) rose over 3% in early trading Monday after the pizza delivery chain’s first-quarter results soared past estimates as its loyalty program and a deal with Uber Eats (UBER) drove sales.
Revenue, EPS Beat Analyst Estimates
The world’s biggest pizza company reported diluted earnings per share of $3.58, rising 22.2% from $2.93 in the year-ago period, with revenue increasing 5.9% year-over-year to $1.08 billion. Both exceeded analyst estimates compiled by Visible Alpha. Same-store sales were up 5.6%.
Boost From Rewards Loyalty Program
CEO Russell Weiner said the chain’s same-store sales got a boost from “our new and improved Domino’s Rewards loyalty program.” He added that Domino’s “went live” with marketing on Uber Eats, and that “we remain on track to exit the year at 3% or MORE of sales coming through this new channel.”
Domino’s added 164 stores in the quarter, giving it a total of 20,755. The company reiterated its earlier full-year guidance of sales growth of 7% or higher and 1,100 or more net store additions.
Domino’s Pizza shares were up 3.5% at $516.38 as of 10:50 a.m. ET Monday. They’ve gained about one-quarter of their value since the start of 2024.
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