Domino’s CEO Russell Weiner Touts Q2 Order Growth While Industry Struggled – ‘Our Scale And Competitive Position Have Never Been Stronger’

• The CEO added that new customers have bolstered the company’s long-term growth strategy.
• For Q2, revenue came in at $1.19 billion, and earnings per share were $4.07.
• As of June 14, the company operated 22,531 stores worldwide, including 7,231 in the U.S. and 15,300 internationally.

Shares of Domino’s Pizza (DPZ) jumped 7% in Monday’s premarket session after the pizza chain reported its second-quarter earnings, with CEO Russell Weiner highlighting the firm’s robustness amid a subdued quarter for the restaurant industry.

“In a quarter where the broader U.S. QSR industry continued to face pressure on consumer demand, Domino's generated order count growth across both our delivery and carryout businesses, bringing millions of new customers to our brand,” Weiner said in a statement.

DPZ Expresses Big Picture Confidence 

Weiner said that new customers have bolstered the company’s long-term growth strategy by signing up for the loyalty program, and their orders are supporting the supply chain and store growth and helping capture additional market share.

“My conviction in Domino's long-term growth potential remains as strong as ever. Our scale and competitive position have never been stronger. Domino's is uniquely positioned to continue gaining market share and delivering long-term value for shareholders," Weiner added.

DPZ’s Q2 Results At A Glance

For the second quarter, revenue for the world's largest pizza chain rose more than 4% to $1.19 billion, ahead of the $1.18 billion consensus estimate polled by Fiscal AI. The company saw retail sales growth of 2% at its U.S. stores and 4.1% at its international stores.

Earnings per share grew nearly 7% from last year to $4.07, but were below the consensus estimate of $4.17. As of June 14, the company operated 22,531 stores worldwide, including 7,231 in the U.S. and 15,300 internationally.

On Stocktwits, retail sentiment toward the stock turned ‘bullish’ from ‘neutral’ over the past 24 hours. DPZ shares have fallen more than 23% so far this year and more than 31% over the last 12 months.

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