Domino's Pizza beats by $0.09, beats on revs:
- Reports Q1 (Mar) earnings of $1.26 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $1.17; revenues rose 15.8% year/year to $624.2 mln vs the $615.66 mln Capital IQ Consensus.
- Domestic same store sales grew 10.2% during the quarter versus the year-ago period, which represents the 24th consecutive quarter of positive sales momentum in the Company's domestic business.
- The international division also posted strong results, with same store sales growth of 4.3% during the quarter, marking the 93rd consecutive quarter of positive international same store sales growth.
- The Company adopted ASU 2016-09 in the first quarter of 2017. This standard addresses the accounting for income taxes and forfeitures and the cash flow presentation of share-based compensation.
- The adoption resulted in a $6.5 million decrease in our first quarter 2017 provision for income taxes, or a 7.2 percentage point decrease in our first quarter 2017 effective tax rate, due to the recognition of excess tax benefits for options exercised and the vesting of equity awards in the first quarter of 2017
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