Summary by Moomoo AI
Domino's Pizza reported strong Q2 2024 results with total revenues increasing 7.1% to $1.1 billion, driven by global retail sales growth of 7.2% excluding foreign currency impact. U.S. same-store sales rose 4.8% while international same-store sales grew 2.1%. The company added 175 net new stores globally during the quarter, expanding its total store count to 20,930 locations.Net income increased 29.8% to $142 million, benefiting from higher franchise royalties, improved supply chain margins, and an $11.4 million unrealized gain on investments. Supply chain revenues grew 7.1% to $659.2 million, while U.S. franchise royalties and fees increased 6.0% to $147.6 million. The company's gross margin improved 0.3 percentage points to 39.8%.The company maintained strong liquidity with $283.7 million in cash and cash equivalents and $278.9 million available under variable funding facilities. Domino's returned capital to shareholders through $53.1 million in dividends and $25 million in share repurchases during the first half of 2024. The Board declared a quarterly dividend of $1.51 per share payable in September 2024.
