Thu, Jul 18, 10:16 AM (51 days ago)
Domino's Pizza, Inc. reported a strong Q2 2024 with revenues of $1.1 billion, up 7.1% YoY, driven by higher supply chain and U.S. store revenues. U.S. same-store sales rose 4.8%, while international same-store sales grew 2.1% excluding foreign currency impact. Net income increased to $142 million, up from $109 million in Q2 2023, supported by higher gross margins and a lower effective tax rate. Operating cash flow was robust at $274 million for the first half of 2024. The company maintained a solid liquidity position with $283.7 million in unrestricted cash and no borrowings under its $320 million variable funding notes. Domino's also declared a $1.51 per share quarterly dividend and authorized a $1.12 billion share repurchase program.