DPZ (Post-Call) Investors Getting Used to Domino’s New Normal

By Mark Kalinowski Published on April 24, 2019 at 12:00 AM

Earlier today, Domino’s (DPZ; Buy) reported Q1 EPS of $2.20, ahead of our $2.10 forecast and sell-side consensus (according to Consensus Metrix) of $2.09. The Q1 tax rate came in at 15.1%, more favorable than our 20.5% estimate (and 20.5% consensus). By our math, had the Q1 actual tax rate been 20.5%, then all else equal, Q1 EPS would have been $2.06.