Shares of Domino’s Pizza (DPZ) fell in premarket trading Monday after the pizza giant reported a mixed fourth-quarter report, with better profits but lower sales than analysts expected.
Domino’s reported earnings per share (EPS) of $4.89 on revenue of $1.44 billion. Analysts polled by Visible Alpha had expected $4.87 and $1.48 billion, respectively.
The Michigan-based pizza chain said same-store sales rose just 0.4% among its U.S. locations, below the 1.5% consensus, and 2.7% internationally, better than the 1.7% growth expectation.
CEO Russell Weiner said 2024 marked 31 straight years of international same store sales growth, despite a “challenging global macroeconomic environment.”
Domino’s shares declined after its last earnings report, but later got a boost when regulatory filings revealed that Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) had built a small stake in the pizza maker.
Domino’s shares were down 5% immediately following Monday’s report. They had entered the day up about 7% over the last 12 months.
:max_bytes(150000):strip_icc()/GettyImages-2178140616-e04d89127adc4fc996b724a212d2d40a.jpg?w=1200&resize=1200,0&ssl=1&description=Domino%E2%80%99s+Pizza+Stock+Slips+as+US+Sales+Growth+Disappoints){kind=link}