ANN ARBOR, Mich. — Domino’s Pizza Inc., the Ann Arbor-based Domino’s Pizza company, reported third-quarter earnings of $152.2 million on Tuesday and said it had profit of $4.60 on a per-share basis.
The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.33 per share. The pizza chain posted revenue of $1.19 billion in the period, also exceeding Street forecasts that seven analysts put near $1.17 billion. Domino’s Pizza (HQ) is one of Ann Arbor’s major employers.
On Tuesday, the chain reported U.S. same-store sales grew 0.3% in the third quarter, below the 0.7% Wall Street had expected. Overall sales were narrowly ahead of consensus, primarily due to higher supply chain and global franchise royalty revenues.
Struggling to attract budget-conscious consumers in a fiercely competitive market, Ann Arbor-based Domino’s Pizza saw sales grow less than analysts expected even while clearing the earnings bar. Pizza chains face pressure as diners eat out less and often favor chicken.
Investors still weighed the beat on profit and revenue against soft U.S. comparable sales. The Ann Arbor headquarters remains the corporate center for the publicly traded chain.
