11:52 AM EDT, 07/18/2024 (MT Newswires) -- (Updates with stock move in the first paragraph)

Domino's Pizza (DPZ) shares were down 12% in recent trading on Thursday after the company suspended guidance of global net stores due to challenges faced by it franchisee.

The company reported fiscal Q2 earnings of $4.03 per diluted share, up from $3.08 a year earlier.

Analysts polled by Capital IQ expected $3.68 per share.

Revenue for the quarter ended June 16 was $1.1 billion, compared with $1.02 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.1 billion.

The pizza chain's US same-store sales grew 4.8% in fiscal Q2, while international same-store sales, excluding foreign currency impact, grew 2.1%.

The company also said it expects to miss its 2024 goal of more than 925 net international stores by 175 to 275 stores due to challenges faced by its master franchisee, Domino's Pizza Enterprises.

Domino's also suspended its guidance of more than 1,100 global net stores until the full impact of the franchisee's situation is understood, the company said.

Price: 414.90, Change: -58.37, Percent Change: -12.33