Thursday October 10, 2024, 09:52:05
DPZ (Post-Call): Updates Some of its 2024 and 2025 Targets
Earlier today, Domino’s reported Q3 EPS reached $4.19. This was ahead of our $3.40 forecast and sell-side consensus (according to Consensus Metrix) of $3.64. Importantly, Domino’s minority ownership stake in DPC Dash (Domino’s China; 1405.HK; Not Rated) helped pre-tax income by $26.2 million, in line with our expectations. By our math, this works out to an EPS boost of about +59 cents (matching our expectations). Thus, excluding this help, Q3 EPS would have been about $3.60 — four cents short of consensus. Please note that this DPC Dash-related EPS help was not included in our $3.40 Q3E EPS estimate, nor in consensus.