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08:30
Jul 20 ◎

DPZ FY2026 Q2 Watch

Domino's Pizza, Inc. (DPZ) FY2026 Q2 Earnings Call

UBER DASH DPZ DOM.L ▾

Russell Weiner

Domino's views aggregator orders as 50% incremental, meaning half of those orders would not have occurred through its own channels, boosting system-wide order counts without cannibalizing core business. — The high incrementality makes third-party partnerships a pure growth lever for Domino's, validating the aggregator model and suggesting continued marketing spend on those platforms.

"We continue to grow on both Uber and DoorDash and believe that we are now the number one pizza player on both platforms."

UBER WATCH DASH WATCH

Sandeep Reddy

DPE's deliberate reduction of low-margin transactions is depressing Domino's international comps, signaling ongoing operational headwinds for the franchisee.

"Comps continue to be impacted by Domino's Pizza Enterprises. They remain focused on turning their business around, and we continue to work closely with them on that."

DPZ WATCH

Russell Weiner

DPG's successful chicken dipper launch may provide a template for U.S. product innovation, though not yet directly incremental to Domino's U.S. results.

"Chicken dip has been launched by DPG, Domino's Pizza Group, and they reported in Q1 they were very happy with the launch."

DOM.L WATCH

HIGH

08:30
Apr 27 ◎

DPZ FY2026 Q1 Watch

Domino's Pizza Inc (DPZ) FY2026 Q1 Earnings Call

DPZ DMP PZZA YUM ▾

Russell Wiener

Management lowered full-year US comp guidance from 3% to 'positive low single digits' citing macro headwinds and increased competition, but reaffirmed long-term algorithm and still internally targeting 3%. Tone is cautious but not bearish.

"While I was pleased with our start to the year, performance for the rest of the quarter did not meet our expectations, resulting in same-store sales of 0.9%."

DPZ WATCH

Sandeep Reddy

Domino's Pizza Enterprises (DPE) continues to underperform, dragging down international same-store sales. Domino's is closely engaging with DPE's new leadership to drive a turnaround via value initiatives.

"Excluding the headwind on our comp sales from Domino's Pizza Enterprises in the quarter, we would have met our expectations."

DMP WATCH

Russell Wiener

Management asserts that when pizza competitors match Domino's value offers, it strains their franchisee economics and will likely accelerate store closures, citing ~450 closures already announced by two public competitors for 2026. — This suggests a structural supply-side shakeout in the QSR pizza category, benefiting Domino's market share and potentially leading to lasting capacity reduction among rivals.

"When competitors match our value, it places significant pressure on their franchisee economics. Over time, we expect this pressure to contribute to more store closures on top of the roughly 450 closures our two public pizza competitors"

PZZA WATCH YUM WATCH

HIGH

08:30
Feb 23 ◎

DPZ FY2025 Q4 Watch

Domino's Pizza Inc (DPZ) FY2025 Q4 Earnings Call

DASH DPZ UBER YUM PZZA ▾

Russell Wiener

Domino's expects its DoorDash volumes to grow as they achieve full roll-out and increase marketing spend, which would directly benefit DoorDash's revenue and order volume.

"we expect continued growth on aggregator platforms, in particular on DoorDash, where we were not fully rolled out until mid-year 2025."

DASH WATCH

Russell Wiener

Management issued a confident 2026 outlook with US comp of 3%, 175+ net store openings, and 8% operating income growth despite a pressured macro, signaling continued share gains and profit power.

"We continue to work closely with them to turn their business around and are encouraged by the hiring of their new CEO Andrew Gregory."

DPZ WATCH

Russell Wiener

Domino's sees headroom to grow on Uber Eats as well, which would incrementally benefit Uber's marketplace revenue.

"we have not yet reached our fair share on either of the major aggregators."

UBER WATCH

Sandeep Reddy

Domino's noted that a major national pizza competitor is closing up to 250 stores in H1, which will accelerate Domino's market share gains in a growing category. — The store closures reduce competitive density, providing Domino's with incremental sales opportunities and better economics for new franchise units.

"one of our national competitors has announced that they've had a negative same-store sales in the mid-single digits, and they also talked about closing a number of stores up to 250 stores in the first half of the year."

YUM WATCH PZZA WATCH

HIGH

08:30
Oct 14 ◎

DPZ FY2025 Q3 Watch

Domino's Pizza Inc (DPZ) FY2025 Q3 Earnings Call

DASH DMP DPZ UBER ▾

Russell Wiener

Competitors on aggregators are using unsustainable pricing, which Domino's can match profitably due to scale and purchasing power, likely leading to further share gains. — Sustainable discounting gives Domino's a structural advantage on 3rd-party platforms, potentially driving higher order volume and pressuring smaller competitors.

"We continue to expect our sales on DoorDash to grow as awareness and marketing increases and believe this will be a meaningful contributor to our U.S. comps in Q4 and as we move into 2026."

DASH WATCH UBER WATCH

Sandeep Reddy

DPE, Domino's largest master franchisee, is closing stores (~200) due to weak sales in France and Japan, pressuring international unit growth.

"We really have been pressured by DPE store closures, which are around 200 stores that have closed in the first quarter."

DMP WATCH

Russell Wiener

Management reiterates 3% US comp guidance but notes macro pressure intensifying in Q4; confidence in share gains but cautious on absolute traffic.

"We have best in class franchisee economics in QSR pizza, the largest advertising budget, a supply chain with incredible purchasing power and a rewards program that is bigger than ever."

DPZ WATCH

HIGH

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