- Revenue: $1.11B, +2.5% Y/Y
- Net Income: $149.7M, +18.9% Y/Y
- Free Cash Flow: $164.4M, +59.1% Y/Y
CEO Russell Weiner: "Our Hungry for MORE strategy continues to drive market share growth in QSR Pizza across both our US and international businesses."
🌱Revenue & Growth
- US retail sales: $2.24B, +1.3% Y/Y
- International retail sales: $2.22B, +8.2% Y/Y
- Global retail sales: $4.46B, +4.7% Y/Y
- US same store sales: -0.5% Y/Y
- International same store sales (ex-FX): +3.7% Y/Y
💰Profits & Health
- Gross Margin: 39.8% vs 38.9% in Q1 2024
- U.S. Company-owned store gross margin: 16.0%, down 1.5pp Y/Y
- Supply chain gross margin: 11.6%, up 0.5pp Y/Y
- Income from Operations: $210.1M, -0.2% Y/Y
- Diluted EPS: $4.33, +20.9% Y/Y
- Leverage Ratio: 4.9x vs 5.0x Q1 2024
- Net Cash from Ops: $179.1M, +45.0% Y/Y
- Capital Expenditures: $14.7M, -26.9% Y/Y
📌Business Highlights
- 17 net new stores in US; 25 net closures internationally
- Declared $1.74/share dividend (payable Jun 30, 2025)
- Repurchased 115,280 shares for $50M
- Food basket pricing to stores increased +4.8% Y/Y
🔮Future Outlook
- Focus on Hungry for MORE strategy: MORE sales, MORE stores, MORE profits
- Emphasis on growing US and international market share despite macroeconomic challenges
- Share repurchase authorization remaining: $764.3M