Domino’s Pizza (DPZ) Q3 2026 Earnings Call: Order Growth, Softer Outlook
Source Tradingkey
Key Takeaways
- Domino’s Pizza reported Q3 2026 operating income growth of 8.5%, excluding foreign exchange and minor refranchising true-up impacts, supported by higher franchise royalties and fees and supply-chain gross profit growth.
- Global retail sales increased 3.2% excluding foreign exchange. U.S. retail sales rose 2.1%, while international retail sales grew 4.3% on the same basis.
- U.S. same-store sales increased 0.3%. Order counts grew across delivery and carryout, but a lower average ticket and fewer items per order limited comparable-sales growth.
- Management now expects 2026 U.S. same-store sales growth at the low end of the low-single-digit range. International same-store sales are expected to be approximately flat.
- The company reduced its 2026 U.S. net store opening outlook to 125–150, citing pressure on the development pipeline and franchisee profitability. Its long-term U.S. target remains above 8,500 stores.
- Joseph Jordan outlined two priorities as Domino’s new CEO: moving closer to customers and strengthening franchisee four-wall profitability. Russell Weiner is expected to become Executive Chairman at the April annual shareholder meeting.
Key Financial Data
| Metric | Q3 2026 result | Commentary |
|---|---|---|
| Operating income growth | 8.5% | Excludes foreign exchange and minor refranchising true-up impacts; driven mainly by franchise royalties, fees and supply-chain gross profit growth |
| Global retail sales growth | 3.2% | Excluding foreign exchange; supported by more than 950 net new stores over the past 12 months |
| U.S. retail sales growth | 2.1% | Primarily driven by net store growth |
| U.S. same-store sales growth | 0.3% | Order growth was partly offset by a lower average ticket |
| U.S. carryout comparable sales | 1.0% | Carryout remained positive despite consumer pressure |
| U.S. delivery comparable sales | (0.3%) | Includes continued aggregator growth alongside first-party delivery |
| U.S. pricing | 1.2% | Ticket remained pressured by fewer items per order |
| International retail sales growth | 4.3% | Excluding foreign exchange; primarily supported by net store growth |
| International same-store sales growth | 0.2% | Continued to be affected by Domino’s Pizza Enterprises and broader uncertainty |
| Q3 net new stores | 26 U.S.; 149 international | Store openings remained weighted toward international markets |
| Year-to-date share repurchases | Approximately 849,000 shares for $305 million | Approximately $1.15 billion remained under the repurchase authorization |
| Leverage | 4.2x EBITDA | Management may operate below the 4x low end of its target range given current interest rates |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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