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domino pizza and papa johns Both fell in pre-market trading after reporting mixed gains on Thursday morning.
Domino’s missed analyst estimates for US same-store sales and total earnings for the quarter. Domino’s also lowered its outlook. Papa John’s sales fell short of expectations in North America.
Domino’s stock fell more than 11%, while Papa John’s stock fell 6%.
Both pizza companies recently raised prices to offset rising food, transportation and labor costs. Domino’s reports that demand is teetering amid a nationwide driver shortage. Last October, a Domino executive announced the factory would raise prices by about 7% in the fourth quarter, including jumping the Mix & Match deal from his $5.99 to $6.99.
Here’s Domino’s performance compared to analyst estimates, according to Refinitiv.
- Revenue: $1.39 billion vs. $1.44 billion forecast
- Adjusted earnings per share: $3.97 vs. $3.94 expected
The Michigan-based company said U.S. same-store sales increased 0.9%, well below analyst estimates of 3.4%, according to estimates compiled by StreetAccount. This was his 0.8% decline in fiscal 2022.
U.S. company-operated store revenue of $117 million fell short of StreetAcount’s estimate of $129.3 million.
The company has lowered its two- to three-year sales guidance from 6% to 10% growth to a range of 4% to 8%, citing macroeconomic headwinds weighing on its domestic shipping business.
Revenue in Q4 2022 increased by 3.6% compared to the same period last year. This indicates that revenues for his chain of supply have increased as a result of higher market prices for his baskets to stores.
This month, Domino’s Pizza launched potato tots packed with three flavors.
“In 2022, there was a lot of pressure on the US shipping business, and we focused on creating solutions,” said Russell Weiner, CEO. “We also continued the momentum in our carry business in the US and achieved significant growth in our international stores.”
Papa John’s pizza delivery bike parked outside its London branch.
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Papa John’s fourth quarter results beat Wall Street’s expectations. Total revenue fell less than 1% from the company’s record fourth quarter last year. Without the strategic re-franchising of dozens of restaurants, revenue would have increased by 3%.
According to Refinitiv, compared to analyst estimates, Papa Johns:
- Revenue: $526.2 million vs. $523.8 million forecast
- Adjusted earnings per share: $0.71 vs $0.66 expected
The Louisville-based company underperformed estimates for its North American company-owned restaurant sales, reporting $172.2 million in revenue and an expected $172.7 million, according to estimates compiled by StreetAccount. Did. Comparable sales in North America increased him 1% year over year.
The company expects comparable sales in North America to grow between 2% and 4% annually, executives said. They added that they expect growth in 2023 to be at the lower end of that range.
Both Domino’s and Papa John’s earnings are McDonald’s and Hmmm!brandboth exceeded quarterly earnings and earnings estimates for the quarter.
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