Domino's Pizza announces new $1B share repurchase program (and reviewing earnings)

*On February 24, the company’s Board of Directors authorized a new share repurchase program to repurchase up to $1B of the company’s common stock. This repurchase program replaces the remaining availability of approximately $76.6M under the company’s previously approved $1B share repurchase program.

This is after earnings that missed estimates.

Earnings per share: $3.46 adjusted vs. $3.89 expected Revenue: $1.36 billion vs. $1.39 billion expected

U.S. same-store sales increased by 11.2%, down from third quarter’s 17.5% growth. International same-store sales climbed by 7.3%.

Domino’s also said it made a $40 million investment in Dash Brands, the privately held company that serves as the pizza chain’s franchisee in China. Domino’s first invested in Dash in the second quarter of 2020, acquiring a noncontrolling stake for $40 million.

The company’s new two- to three-year outlook projects net unit growth of 6% to 8% and global retail sales growth of 6% to 10%, excluding foreign currency.

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