STRATEGIC PARTNERS
July 19, 2018
Domino's Q2 2018 results show same-store sales 6.9 percent over last year's quarter, with a 4 percent growth in international same-store sales, giving the company 98 straight quarters of growth internationally and 29 domestically. Second-quarter global net store growth included 113 net new international locations and 43 domestically, a news release said.
Other key financial highlights for Q2 include:
• Revenues increased $150.8 million, or 24 percent in Q2.
• Net Income increased $11.7 million, or 17.7 percent.
• Diluted EPS, as adjusted, grew $0.52 over the previous year's quarter to $1.84
"Global retail sales remain strong as we see our franchisees building new stores, growing same store sales and bringing customers back again and again," Domino's CEO Ritch Allison said in the release. "Our second quarter was highlighted by yet another innovation in food delivery with the launch of Domino's HotSpots, of which there are now more than 200,000 across the United States.
"The energy, passion and operational execution of our franchisees and managers around the world inspire me as I begin my role as CEO."
Diluted EPS was up 34.8 percent for the quarter to $1.78, but was negatively impacted by the company's recapitalization.
Diluted EPS, as adjusted, was $1.84 for the second quarter, which was up 39.4 percent over the same period last year.
As part of the company's April 2018 recapitalization, it used a portion of the $825 million borrowed to repay the remaining $490.1 million in outstanding principal and interest under its 2015 5-year fixed rate notes. The money was also used to prefund a portion of the principal and interest payable on the 2018 notes, pay transaction fees and expenses, as well as repurchase and retire shares of the company's common stock.
In Q2, Domino's repurchased 905,556 shares of its common stock for approximately $219 million and the board declared a $0.55 per share quarterly dividend for shareholders of record as of June 15 this year. That amount was paid June 29, while the board also declared a $0.55 per share quarterly dividend for shareholders of record
