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Domino’s (NYSE:DPZ) stock is on the rise Monday as investors celebrate positive results from the company’s Q1 2024 earnings report.
That report starts with adjusted earnings per share of $3.58. This is better than the $3.40 per share that Wall Street was expecting for the quarter. It’s also a 22.2% increase year-over-year from the $2.93 per share reported in Q1 2023.
Adding to that is Domino’s revenue of $1.08 billion for the quarter. That’s another win as it matches what analysts were expecting for the period. It’s also a 5.9% increase compared to the $1.02 billion reported in the first quarter of 2023.
Domino’s CEO Russell Weiner said the following about the company’s performance in Q1.
“Our growth in the U.S. came through positive order counts in both our carryout and delivery businesses for the second quarter in a row. Further, this order growth was across all income cohorts.”
DPZ Stock Quarterly Dividend
Investors will also keep in mind a quarterly dividend to go with the strong Q1 earnings report. The company intends to pay a dividend of $1.51 per share to DPZ stockholders on June 28, 2024. Shareholders must be on record June 14, 2024 to receive this dividend.
DPZ stock is up 3.8% as of Monday morning and is up 23.7% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2024/04/dpz-stock-analysis-why-dominos-is-heating-up-today/.
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