Domino's Pizza® Announces First Quarter 2026 Financial Results
Global retail sales growth (excluding foreign currency impact) of 3.4%
International same store sales decline (excluding foreign currency impact) of 0.4%
Global net store growth of 180, including 19 net store openings in the
Income from operations increased 9.6%; excluding the
Board of Directors approves additional
"Q1 2026 represented another quarter of positive order count and market share growth for Domino's in the
First Quarter of 2026 Operational and Financial Highlights (Unaudited):
The tables below outline certain statistical measures utilized by the Company to analyze its performance, as well as key financial results. This historical data is not necessarily indicative of results to be expected for any future period. Refer to Comments on Regulation G below for additional details, including definitions of these statistical measures and certain reconciliations.
|
|
|
First Quarter |
||||
|
|
|
2026 |
|
2025 |
||
|
Global retail sales: (in millions of |
|
|
|
|
||
|
|
|
$ |
2,302.6 |
|
$ |
2,240.8 |
|
International stores |
|
|
2,437.1 |
|
|
2,223.5 |
|
Total |
|
$ |
4,739.7 |
|
$ |
4,464.3 |
|
|
|
|
||||
|
|
|
First Quarter |
||||
|
|
|
2026 |
|
2025 |
||
|
Global retail sales growth:
|
|
|
|
|
||
|
|
|
+ 2.8 % |
|
+ 1.3 % |
||
|
International stores |
|
+ 4.0 % |
|
+ 8.2 % |
||
|
Total |
|
+ 3.4 % |
|
+ 4.7 % |
||
|
|
|
|||||
|
|
|
First Quarter |
||||
|
|
|
2026 |
|
2025 |
||
|
Same store sales growth:
|
|
|
|
|
||
|
|
|
+ 1.5 % |
|
(2.9) % |
||
|
|
|
+ 0.8 % |
|
(0.4) % |
||
|
|
|
+ 0.9 % |
|
(0.5) % |
||
|
International stores (excluding foreign currency impact) |
|
(0.4) % |
|
+ 3.7 % |
||
|
|
|
|
|
|
|
|
|
Total
|
|
|
International
|
|
|
Total |
|||||
|
First quarter of 2026 store counts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Store count at |
|
|
262 |
|
|
|
6,924 |
|
|
|
7,186 |
|
|
|
14,956 |
|
|
|
22,142 |
|
Openings |
|
|
1 |
|
|
|
20 |
|
|
|
21 |
|
|
|
212 |
|
|
|
233 |
|
Closings |
|
|
(1) |
|
|
|
(1) |
|
|
|
(2) |
|
|
|
(51) |
|
|
|
(53) |
|
Store count at |
|
|
262 |
|
|
|
6,943 |
|
|
|
7,205 |
|
|
|
15,117 |
|
|
|
22,322 |
|
First quarter 2026 net store growth |
|
|
— |
|
|
|
19 |
|
|
|
19 |
|
|
|
161 |
|
|
|
180 |
|
Trailing four quarters net store growth |
|
|
5 |
|
|
|
169 |
|
|
|
174 |
|
|
|
790 |
|
|
|
964 |
|
|
|
First Quarter |
||||
|
(In millions, except percentages, percentage points, per share data and leverage ratio) |
|
2026 |
|
2025 |
|
Increase/
|
|
Total revenues |
|
|
|
|
|
+ 3.5 % |
|
|
|
|
|
|
|
|
|
Supply chain gross margin |
|
12.2 % |
|
11.6 % |
|
+ 0.6 pp |
|
|
|
|
|
|
|
|
|
Income from operations |
|
|
|
|
|
+ 9.6 % |
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
|
|
(6.6) % |
|
Diluted earnings per share |
|
|
|
|
|
(4.6) % |
|
|
|
|
|
|
|
|
|
Leverage ratio |
|
4.3x |
|
4.9x |
|
(0.6)x |
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
|
|
|
|
|
(9.5) % |
|
Capital expenditures |
|
(15.0) |
|
(14.7) |
|
+ 2.0 % |
|
Free cash flow |
|
|
|
|
|
(10.6) % |
-
Revenues increased
$38.5 million , or 3.5%, in the first quarter of 2026 as compared to the first quarter of 2025, primarily due to higher supply chain revenues and higher global franchise royalties and advertising revenues. The increase in supply chain revenues was primarily attributable to an increase in the Company's food basket pricing to stores, which increased 2.6% in the first quarter of 2026 as compared to the first quarter of 2025. Higher order volumes also contributed to the increase in supply chain revenues. These increases were partially offset by a shift in the relative mix of products sold by the Company. The increases inU.S. franchise royalties and advertising revenues were driven primarily by net store growth during the trailing four quarters and higher same store sales. International franchise royalties increased primarily due to the positive impact of foreign currency exchange rates on international franchise royalty revenues of$3.6 million , as well as net store growth during the trailing four quarters. -
Supply chain gross margin increased 0.6 percentage points in the first quarter of 2026 as compared to the first quarter of 2025, primarily due to procurement productivity, partially offset by an increase in the cost of the Company's food basket.
-
Income from operations increased
$20.3 million , or 9.6%, in the first quarter of 2026 as compared to the first quarter of 2025. Excluding the positive impact of foreign currency exchange rates on international franchise royalty revenues of$3.6 million , income from operations increased$16.7 million , or 7.9%, primarily due to higherU.S. and international franchise royalties and fees and gross margin dollar growth within supply chain. A$7.8 million pre-tax realized gain on the sale of the Company's fully depreciated corporate aircraft in the first quarter of 2026 also contributed to the increase in income from operations. -
Net income decreased
$9.8 million , or 6.6%, in the first quarter of 2026 as compared to the first quarter of 2025, primarily due to an unfavorable change of$30.0 million in the pre-tax unrealized losses and gains associated with the remeasurement of the Company's investment in DPC Dash Ltd ("DPC Dash"). This decrease was partially offset by higher income from operations. -
Diluted EPS was
$4.13 in the first quarter of 2026 as compared to$4.33 in the first quarter of 2025, representing a$0.20 , or 4.6%, decrease. The decrease in diluted EPS was driven by lower net income. This decrease was partially offset by a lower weighted average diluted share count, resulting from the Company's share repurchases during the trailing four quarters. -
Net cash provided by operating activities was
$162.0 million in the first quarter of 2026 as compared to$179.1 million in the first quarter of 2025. The Company spent$15.0 million on capital expenditures in the first quarter of 2026 as compared to$14.7 million in the first quarter of 2025, resulting in free cash flow of$147.0 million in the first quarter of 2026 as compared to$164.4 million in the first quarter of 2025. The decrease in free cash flow was a result of the negative impact of changes in operating assets and liabilities, partially offset by the increase in income from operations (excluding the pre-tax realized gain on the sale of the Company's fully depreciated corporate aircraft).
Quarterly Dividend
Subsequent to the end of the first quarter of 2026, on
Share Repurchases
During the first quarter of 2026, the Company repurchased and retired 188,304 shares of common stock for a total of
Subsequent to the end of the first quarter of 2026, on
Comments on Regulation G
In addition to the GAAP financial measures set forth in this press release, the Company has included non-GAAP financial measures within the meaning of Regulation G, including free cash flow, income from operations, excluding foreign currency impact and Consolidated Adjusted EBITDA. The Company has also included metrics such as global retail sales, global retail sales growth (excluding foreign currency impact), same store sales growth, net store growth, food basket pricing change, impact of changes in foreign currency exchange rates on international franchise royalty revenues and the leverage ratio, which are commonly used statistical measures in the quick-service restaurant industry that are important to understanding Company performance.
The Company uses "global retail sales," a statistical measure, to refer to total worldwide retail sales at Company-owned and franchise stores. The Company believes global retail sales information is useful in analyzing revenues because franchisees pay royalties and advertising fees that are based on a percentage of franchise retail sales. The Company reviews comparable industry global retail sales information to assess business trends and to track the growth of the Domino's Pizza brand and believes they are indicative of the financial health of the Company's franchisee base. In addition, supply chain revenues are directly impacted by changes in franchise retail sales in the
The Company uses "same store sales growth," a statistical measure, which is calculated by including only retail sales from stores that also had sales in the comparable weeks of both periods. International same store sales growth is calculated similarly to
The Company uses "net store growth," a statistical measure, which is calculated by netting gross store openings with gross store closures during the period. Transfers between Company-owned stores and franchised stores are excluded from the calculation of net store growth.
The Company uses "food basket pricing change," a statistical measure, which is calculated as the percentage change of the food basket (including both food and cardboard products) purchased by an average
The Company uses "free cash flow," which is calculated as net cash provided by operating activities, less capital expenditures, both as reported under GAAP. The most directly comparable financial measure calculated and presented in accordance with GAAP is net cash provided by operating activities. The Company believes that the free cash flow measure is important to investors and other interested persons, and that such persons benefit from having a measure which communicates how much cash flow is available for working capital needs or to be used for repurchasing debt, making acquisitions, repurchasing common stock or paying dividends.
The Company uses "income from operations, excluding foreign currency impact," which is calculated as income from operations as reported under GAAP, less the "impact of changes in foreign currency exchange rates on international franchise royalty revenues," a statistical measure. The most directly comparable financial measure calculated and presented in accordance with GAAP is income from operations. The impact of changes in foreign currency exchange rates on international franchise royalty revenues is calculated as the difference in international franchise royalty revenues resulting from translating current period local currency results to
The Company uses "Consolidated Adjusted EBITDA," which is calculated as income from operations as reported under GAAP, excluding depreciation and amortization, non-cash equity-based compensation expense, gains and losses from the sale and disposal of assets and refranchising gains and losses, each as reported under GAAP. Consolidated Adjusted EBITDA is defined in the base indenture governing the Company's securitized debt and is used by the Company and investors to calculate the leverage ratio (defined below), and other ratios defined in the indenture governing the Company's securitized debt. As such, Consolidated Adjusted EBITDA is important to investors and other interested persons to understand the financial performance of the Company, and to assess the ability of the Company to meet its financial obligations.
The Company uses the "leverage ratio1," which is calculated as the Company's securitized debt related to its fixed-rate notes and borrowings under its variable funding notes, divided by Consolidated Adjusted EBITDA on a trailing four quarters basis. The Company has historically operated with a leverage ratio between four and six times. The Company reviews its leverage ratio on at least a quarterly basis and believes its leverage ratio is important to investors and other interested persons to understand the capital structure of the Company, and to assess the ability of the Company to meet its financial obligations.
The reconciliation of the leverage ratio for the first quarters of 2026 and 2025 is as follows below.
|
|
|
March 22, |
|
|
March 23, |
|
||
|
2015 Ten-Year Notes |
|
$ |
— |
|
|
$ |
742,000 |
|
|
2017 Ten-Year Notes |
|
|
940,000 |
|
|
|
940,000 |
|
|
2018 7.5-Year Notes |
|
|
— |
|
|
|
402,688 |
|
|
2018 9.25-Year Notes |
|
|
379,000 |
|
|
|
379,000 |
|
|
2019 Ten-Year Notes |
|
|
648,000 |
|
|
|
648,000 |
|
|
2021 7.5-Year Notes |
|
|
826,625 |
|
|
|
826,625 |
|
|
2021 Ten-Year Notes |
|
|
972,500 |
|
|
|
972,500 |
|
|
2025 Five-Year Notes |
|
|
500,000 |
|
|
|
— |
|
|
2025 Seven-Year Notes |
|
|
500,000 |
|
|
|
— |
|
|
Total fixed-rate notes |
|
$ |
4,766,125 |
|
|
$ |
4,910,813 |
|
|
|
|
|
|
|
|
|
||
|
Income from operations - first quarter of 2026 and 2025 |
|
$ |
230,357 |
|
|
$ |
210,095 |
|
|
Income from operations - fourth quarter of 2025 and 2024 |
|
|
295,667 |
|
|
|
273,652 |
|
|
Income from operations - third quarter of 2025 and 2024 |
|
|
223,168 |
|
|
|
198,831 |
|
|
Income from operations - second quarter of 2025 and 2024 |
|
|
225,044 |
|
|
|
196,103 |
|
|
Income from operations - trailing four quarters |
|
$ |
974,236 |
|
|
$ |
878,681 |
|
|
|
|
|
|
|
|
|
||
|
Depreciation and amortization - trailing four quarters |
|
$ |
88,899 |
|
|
$ |
88,225 |
|
|
Non-cash equity-based compensation expense - trailing four quarters |
|
|
43,048 |
|
|
|
42,298 |
|
|
Refranchising (gain) loss - trailing four quarters |
|
|
(4,028) |
|
|
|
25 |
|
|
Gain on sale of assets - trailing four quarters |
|
|
(7,780) |
|
|
|
— |
|
|
Loss on disposal of assets - trailing four quarters |
|
|
1,946 |
|
|
|
1,704 |
|
|
Reconciliation of income from operations to |
|
$ |
122,085 |
|
|
$ |
132,252 |
|
|
|
|
|
|
|
|
|
||
|
Consolidated Adjusted EBITDA - trailing four quarters |
|
$ |
1,096,321 |
|
|
$ |
1,010,933 |
|
|
Leverage ratio |
|
|
4.3 |
x |
|
|
4.9 |
x |
|
(1) |
|
The Company also calculates and reviews its Senior Leverage Ratio and Holdco Leverage Ratio as defined in the indenture governing the Company's |
Conference Call Information
The Company will file its Quarterly Report on Form 10-Q today. As previously announced,
About
Founded in 1960,
Order – dominos.com
Company Info – biz.dominos.com
Media Assets – media.dominos.com
Please visit our Investor Relations website at ir.dominos.com to view news, announcements, earnings releases, investor presentations and conference webcasts.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
This press release contains various forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") that are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. The following cautionary statements are being made pursuant to the provisions of the Act and with the intention of obtaining the benefits of the "safe harbor" provisions of the Act. You can identify forward-looking statements by the use of words such as "anticipates," "believes," "could," "should," "estimates," "expects," "intends," "may," "will," "plans," "predicts," "projects," "seeks," "approximately," "potential," "outlook" and similar terms and phrases that concern our strategy, plans or intentions, including references to assumptions. These forward-looking statements address various matters including information concerning future results of operations and business strategy, our anticipated profitability, estimates in same store sales growth, store growth and the growth of our
TABLES TO FOLLOW
|
Condensed Consolidated Statements of Income (Unaudited) |
||||||||||||||||
|
|
||||||||||||||||
|
|
|
Fiscal Quarter Ended |
|
|||||||||||||
|
|
|
March 22, |
|
|
% of
|
|
|
March 23, |
|
|
% of
|
|
||||
|
(In thousands, except share and per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
$ |
82,098 |
|
|
|
|
|
$ |
91,598 |
|
|
|
|
||
|
|
|
|
158,014 |
|
|
|
|
|
|
151,000 |
|
|
|
|
||
|
Supply chain |
|
|
698,973 |
|
|
|
|
|
|
669,924 |
|
|
|
|
||
|
International franchise royalties and fees |
|
|
80,980 |
|
|
|
|
|
|
75,559 |
|
|
|
|
||
|
|
|
|
130,529 |
|
|
|
|
|
|
123,975 |
|
|
|
|
||
|
Total revenues |
|
|
1,150,594 |
|
|
|
100.0 |
% |
|
|
1,112,056 |
|
|
|
100.0 |
% |
|
Cost of sales: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
72,046 |
|
|
|
|
|
|
76,911 |
|
|
|
|
||
|
Supply chain |
|
|
614,036 |
|
|
|
|
|
|
591,998 |
|
|
|
|
||
|
Total cost of sales |
|
|
686,082 |
|
|
|
59.6 |
% |
|
|
668,909 |
|
|
|
60.2 |
% |
|
Gross margin |
|
|
464,512 |
|
|
|
40.4 |
% |
|
|
443,147 |
|
|
|
39.8 |
% |
|
General and administrative |
|
|
111,406 |
|
|
|
9.7 |
% |
|
|
109,077 |
|
|
|
9.8 |
% |
|
|
|
|
130,529 |
|
|
|
11.4 |
% |
|
|
123,975 |
|
|
|
11.1 |
% |
|
Gain on sale of assets |
|
|
(7,780) |
|
|
|
(0.7) |
% |
|
|
— |
|
|
|
— |
|
|
Income from operations |
|
|
230,357 |
|
|
|
20.0 |
% |
|
|
210,095 |
|
|
|
18.9 |
% |
|
Other (expense) income |
|
|
(5,990) |
|
|
|
(0.5) |
% |
|
|
24,027 |
|
|
|
2.2 |
% |
|
Interest expense, net |
|
|
(43,725) |
|
|
|
(3.8) |
% |
|
|
(41,640) |
|
|
|
(3.8) |
% |
|
Income before provision for income taxes |
|
|
180,642 |
|
|
|
15.7 |
% |
|
|
192,482 |
|
|
|
17.3 |
% |
|
Provision for income taxes |
|
|
40,831 |
|
|
|
3.5 |
% |
|
|
42,831 |
|
|
|
3.8 |
% |
|
Net income |
|
$ |
139,811 |
|
|
|
12.2 |
% |
|
$ |
149,651 |
|
|
|
13.5 |
% |
|
Earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Common stock – diluted |
|
$ |
4.13 |
|
|
|
|
|
$ |
4.33 |
|
|
|
|
||
|
Weighted average diluted shares |
|
|
33,815,028 |
|
|
|
|
|
|
34,553,820 |
|
|
|
|
||
|
Condensed Consolidated Balance Sheets (Unaudited) |
|||||||
|
|
|||||||
|
|
|
March 22, |
|
|
|
||
|
(In thousands) |
|
|
|
|
|
||
|
Assets |
|
|
|
|
|
||
|
Current assets: |
|
|
|
|
|
||
|
Cash and cash equivalents |
|
$ |
232,922 |
|
|
$ |
125,675 |
|
Restricted cash and cash equivalents |
|
|
183,628 |
|
|
|
216,110 |
|
Accounts receivable, net |
|
|
306,098 |
|
|
|
315,958 |
|
Inventories |
|
|
69,154 |
|
|
|
79,189 |
|
Prepaid expenses and other |
|
|
41,377 |
|
|
|
39,767 |
|
Advertising fund assets, restricted |
|
|
115,814 |
|
|
|
117,502 |
|
Total current assets |
|
|
948,993 |
|
|
|
894,201 |
|
Property, plant and equipment, net |
|
|
386,730 |
|
|
|
324,022 |
|
Operating lease right-of-use assets |
|
|
238,908 |
|
|
|
219,485 |
|
Investment in DPC Dash |
|
|
30,080 |
|
|
|
36,070 |
|
Other assets |
|
|
239,777 |
|
|
|
242,681 |
|
Total assets |
|
$ |
1,844,488 |
|
|
$ |
1,716,459 |
|
Liabilities and stockholders' deficit |
|
|
|
|
|
||
|
Current liabilities: |
|
|
|
|
|
||
|
Current portion of long-term debt |
|
$ |
7,411 |
|
|
$ |
6,131 |
|
Accounts payable |
|
|
124,376 |
|
|
|
135,029 |
|
Operating lease liabilities |
|
|
49,490 |
|
|
|
47,553 |
|
Advertising fund liabilities |
|
|
113,449 |
|
|
|
115,412 |
|
Other accrued liabilities |
|
|
297,274 |
|
|
|
237,496 |
|
Total current liabilities |
|
|
592,000 |
|
|
|
541,621 |
|
Long-term liabilities: |
|
|
|
|
|
||
|
Long-term debt, less current portion |
|
|
4,876,122 |
|
|
|
4,810,683 |
|
Operating lease liabilities |
|
|
202,750 |
|
|
|
183,917 |
|
Other accrued liabilities |
|
|
80,389 |
|
|
|
81,380 |
|
Total long-term liabilities |
|
|
5,159,261 |
|
|
|
5,075,980 |
|
Total stockholders' deficit |
|
|
(3,906,773) |
|
|
|
(3,901,142) |
|
Total liabilities and stockholders' deficit |
|
$ |
1,844,488 |
|
|
$ |
1,716,459 |
|
Condensed Consolidated Statements of Cash Flows (Unaudited) |
|||||||
|
|
|||||||
|
|
|
Fiscal Quarter Ended |
|||||
|
|
|
March 22, |
|
|
March 23, |
||
|
(In thousands) |
|
|
|
|
|
||
|
Cash flows from operating activities: |
|
|
|
|
|
||
|
Net income |
|
$ |
139,811 |
|
|
$ |
149,651 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
||
|
Depreciation and amortization |
|
|
20,434 |
|
|
|
20,362 |
|
Gain on sale of assets |
|
|
(7,780) |
|
|
|
— |
|
Loss on disposal of assets |
|
|
357 |
|
|
|
266 |
|
Amortization of debt issuance costs |
|
|
1,485 |
|
|
|
1,210 |
|
Provision (benefit) for deferred income taxes |
|
|
3,319 |
|
|
|
(2,290) |
|
Non-cash equity-based compensation expense |
|
|
8,789 |
|
|
|
10,381 |
|
Excess tax benefits from equity-based compensation |
|
|
(463) |
|
|
|
(1,569) |
|
Provision (benefit) for losses on accounts and notes receivable |
|
|
44 |
|
|
|
(57) |
|
Unrealized loss (gain) on investments, net |
|
|
5,990 |
|
|
|
(24,027) |
|
Changes in operating assets and liabilities |
|
|
(370) |
|
|
|
34,244 |
|
Changes in advertising fund assets and liabilities, restricted |
|
|
(9,661) |
|
|
|
(9,095) |
|
Net cash provided by operating activities |
|
|
161,955 |
|
|
|
179,076 |
|
Cash flows from investing activities: |
|
|
|
|
|
||
|
Capital expenditures |
|
|
(15,043) |
|
|
|
(14,745) |
|
Proceeds from sale of assets |
|
|
7,780 |
|
|
|
— |
|
Other |
|
|
(804) |
|
|
|
(1,225) |
|
Net cash used in investing activities |
|
|
(8,067) |
|
|
|
(15,970) |
|
Cash flows from financing activities: |
|
|
|
|
|
||
|
Repayments of long-term debt and finance lease obligations |
|
|
(840) |
|
|
|
(646) |
|
Proceeds from exercise of stock options |
|
|
1,892 |
|
|
|
7,529 |
|
Purchases of common stock |
|
|
(75,098) |
|
|
|
(50,000) |
|
Tax payments for restricted stock upon vesting |
|
|
(12,895) |
|
|
|
(8,158) |
|
Payments of common stock dividends and equivalents |
|
|
(1,459) |
|
|
|
(617) |
|
Net cash used in financing activities |
|
|
(88,400) |
|
|
|
(51,892) |
|
Effect of exchange rate changes on cash |
|
|
(108) |
|
|
|
296 |
|
Change in cash and cash equivalents, restricted cash and cash equivalents |
|
|
65,380 |
|
|
|
111,510 |
|
|
|
|
|
|
|
||
|
Cash and cash equivalents, beginning of period |
|
|
125,675 |
|
|
|
186,126 |
|
Restricted cash and cash equivalents, beginning of period |
|
|
216,110 |
|
|
|
195,370 |
|
Cash and cash equivalents included in advertising fund assets, restricted, |
|
|
92,200 |
|
|
|
80,928 |
|
Cash and cash equivalents, restricted cash and cash equivalents and |
|
|
433,985 |
|
|
|
462,424 |
|
|
|
|
|
|
|
||
|
Cash and cash equivalents, end of period |
|
|
232,922 |
|
|
|
304,320 |
|
Restricted cash and cash equivalents, end of period |
|
|
183,628 |
|
|
|
197,412 |
|
Cash and cash equivalents included in advertising fund assets, restricted, |
|
|
82,815 |
|
|
|
72,202 |
|
Cash and cash equivalents, restricted cash and cash equivalents and cash and |
|
$ |
499,365 |
|
|
$ |
573,934 |
View original content to download multimedia:https://www.prnewswire.com/news-releases/dominos-pizza-announces-first-quarter-2026-financial-results-302753434.html
SOURCE