Dominos Pizza Inc. Q1 FY2024 results: revenue $1.1 billion, up 5.9% on the year

Dominos Pizza Inc. (DPZ) reported revenue of $1.1 billion for Q1 FY2024, the quarter ended 24 March 2024, up 5.9% on the same quarter a year earlier. Net income was $126 million, up 20.1% on the year, and diluted earnings per share $3.58. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2024.

Revenue$1.1 billionup 5.9%

Net income$126 millionup 20.1%

Diluted EPS$3.58

QuarterQ1 FY2024ended 24 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	1,085	1,403	n/a	n/a
Cost of revenue	663	864	n/a	n/a
Gross profit	422	539	n/a	n/a
Gross margin	38.9%	38.4%	n/a
Operating income	210	257	n/a	n/a
Operating margin	19.4%	18.3%	n/a
Interest expense	45.8	60.2	n/a	n/a
Pre-tax income	150	205	n/a	n/a
Income tax	23.8	48.2	n/a	n/a
Effective tax rate	15.9%	23.5%	n/a
Net income	126	157	n/a	n/a
Net margin	11.6%	11.2%	n/a
Diluted EPS	$3.58	$4.47	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	123	n/a	n/a	n/a
Capital expenditure	20.2	n/a	n/a	n/a
Free cash flow	103	n/a	n/a	n/a
Free cash flow margin	9.5%	n/a	n/a
Depreciation and amortisation	19.9	25.6	n/a	n/a
Share-based compensation	11.3	30.1	n/a	n/a
Buybacks	25.0	n/a	n/a	n/a
Dividends paid	0.3	n/a	n/a	n/a
Dividend per share	$1.51	n/a	n/a	n/a
Diluted shares, weighted	35m	35m	n/a	n/a
Shares outstanding at period end	35m	35m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Total assets	1,745	1,675	n/a	n/a
Cash and equivalents	204	114	n/a	n/a
Receivables	286	283	n/a	n/a
Inventory	76.1	83.0	n/a	n/a
Goodwill	11.6	11.7	n/a	n/a
Long-term debt including finance leases	4,974	4,934	n/a	n/a
Operating lease liabilities	185	180	n/a	n/a
Finance lease liabilities	n/a	68.7	n/a	n/a
Shareholders' equity	-4,008	-4,070	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,025	1,027	1,403	1,085	1,098	1,080	1,444	1,112	1,145	1,536	1,151	1,194
Cost of revenue	620	629	864	663	661	656	878	669	684	926	686	716
Gross profit	405	398	539	422	437	424	566	443	461	610	465	478
Gross margin	39%	39%	38%	39%	40%	39%	39%	40%	40%	40%	40%	40%
Operating income	195	189	257	210	196	199	274	210	225	296	230	232
Operating margin	19%	18%	18%	19%	18%	18%	19%	19%	20%	19%	20%	19%
Interest expense	44.9	44.8	60.2	45.8	44.7	44.7	60.6	45.6	44.6	60.7	46.2	46.1
Pre-tax income	138	176	205	150	167	185	221	192	168	230	181	175
Tax rate	21%	16%	23%	16%	15%	20%	23%	22%	22%	21%	23%	23%
Net income	109	148	157	126	142	147	169	150	131	182	140	136
Net margin	11%	14%	11%	12%	13%	14%	12%	13%	11%	12%	12%	11%
Diluted EPS	$3.08	$4.18	$4.47	$3.58	$4.03	$4.19	$4.89	$4.33	$3.81	$5.35	$4.13	$4.07
Operating cash flow	n/a	n/a	n/a	123	n/a	n/a	n/a	179	n/a	n/a	162	n/a
Capital expenditure	n/a	n/a	n/a	20.2	n/a	n/a	n/a	14.7	n/a	n/a	15.0	n/a
Free cash flow	n/a	n/a	n/a	103	n/a	n/a	n/a	164	n/a	n/a	147	n/a
Buybacks	n/a	n/a	n/a	25.0	n/a	n/a	n/a	50.0	n/a	n/a	75.1	n/a
Dividends paid	n/a	n/a	n/a	0.3	n/a	n/a	n/a	0.6	n/a	n/a	1.5	n/a
Shares outstanding	35m	35m	35m	35m	35m	35m	34m	34m	34m	34m	33m	33m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 24 March 2024, filed 29 April 2024, accession 0000950170-24-049419: the filing on EDGAR. All of Dominos Pizza Inc.'s filings: EDGAR company page.

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