Domino's Pizza, Inc. (NYSE:DPZ) this morning announced results for the third quarter of 2017, comprised of strong growth in same store sales,
global store counts and earnings per share.

Third Quarter Highlights:

•  Revenues: UP 13.6% versus the prior year period, due primarily to higher supply chain revenues from increased volumes. Higher same store sales and store count growth in both our domestic and international markets also contributed to the increase in revenues.
• Net Income: UP 19.3% primarily driven by an increase in same store sales growth and store count as well as higher supply chain volumes. The adoption of the new equity-based compensation accounting standard also positively impacted net income. These increases were partially offset by higher general and administrative expenses, primarily from investments in technological initiatives. Net income was also negatively impacted by expenses related to the Company's recapitalization.
• Diluted EPS: UP 22.9% to $1.18. Diluted EPS, as adjusted: UP 32.3% to $1.27. These increases were driven by higher net income, as well as lower diluted share count, primarily as a result of the share repurchases made during the trailing four quarters.
• Same store sales growth: UP: 8.4%
  • Domestic Company-owned stores: UP 8.4%
  • Domestic franchise stores: UP 8.4%   
  • International stores: UP 5.1% (excluding foreign currency impact)
• Global retail sales growth: UP 14.5%
  • Domestic stores: UP 12.0% which represents the 26th consecutive quarter of positive sales momentum in the Company's domestic business
  • International stores: UP 16.8% which represents the 95th consecutive quarter of positive international same store sales
    growth.
• Global net store growth: UP by 217 stores comprised of 53 net new domestic stores and 164 net new stores internationally.

Quarterly dividend

• A 46-cent per share quarterly dividend was paid to shareholders of record as of September 15, 2017 and will pay out a further 46-cent per share quarterly dividend for shareholders of record as of December 15, 2017, to be paid on December 29, 2017.

2017 Recapitalization

• On July 24, 2017, the Company completed its recapitalization with the receipt of $1.9 billion of gross proceeds borrowing $1.6 billion of fixed rate senior secured notes and $300.0 million of floating rate senior secured notes and entered into a new $175.0 million variable funding note facility, which replaced its previous $125.0 million variable funding note facility.
• The Company used a portion of the proceeds from the recapitalization to repay the remaining $910.5 million in outstanding principal and interest under its 2012 fixed rate notes on July 27, 2017.

New share repurchase program

• Additionally, the Board of Directors authorized a new share repurchase program that allows the Company to repurchase up to $1.25 billion of its common stock. This repurchase program replaced the remaining availability of approximately $136.4 million under the Company's previously approved $250.0 million share repurchase program.
• As part of this $1.25 billion share repurchase program, the Company entered into a $1.0 billion ASR agreement with a counterparty which was completed subsequent to the quarter. In connection with the ASR agreement, the Company will receive and retire a total of 5,218,670 shares of its common stock at an average price of $191.62, including 4,558,863 shares of its common stock received and retired during the third quarter.
• As of October 12, 2017, the Company had authorization for repurchases of $250.0 million remaining under its open market share repurchase program.