Domino's Pizza tanks as slowing sales growth drags third-quarter figures below expectations

• Domino's Pizza slumped as much as 7% in early Tuesday trading after the company posted lower-than-expected third-quarter revenue and earnings figures.
• The lower top and bottom line results stemmed from slowing same-store sales growth in its domestic and international locations.
• The company also shifted its guidance model, moving to forecasts for the next two to three years instead of its old three-to-five-year projections.
• Watch Domino's trade live here.

Domino's Pizza sank as much as 7% in early Tuesday trading after the pizza chain's third-quarter report revealed slowing sales growth.

The world's largest pizza restaurant brand posted quarterly earnings and revenue that fell short of analysts' estimates. Growth lagged in domestic and international same-store sales, and the slowdown hit Domino's top and bottom lines.

"We remain steadfastly focused on driving profitable growth for the Domino's system, and most importantly, for our franchisees," Domino's CEO Ritch Allison said in the report. He added that the company faced "a unique competitive environment."

Here are the key numbers:

Adjusted earnings per share: $2.05, versus the $2.07 estimate

Revenue: $820.8 million, versus the $823.1 million estimate

Domestic same-store sales growth: 2.4%, versus 6.4% in the year-ago period

Global same-store sales growth: 1.7%, versus 3.3% in the year-ago period

The company also shifted its guidance model, providing new forecasts for the next two to three years instead of its previous three to five year estimates. Domino's now expects global retail stores to see 7% to 10% sales growth in the next two to three years. It previously anticipated 8% to 12% sales growth over the next three to five years.

The third-quarter report announced board approval of an up to $1 billion share buyback program. The news arrives as many large-cap companies slow or cancel their share repurchases, a trend that threatens one of the US stock market's most effective growth drivers.

Domino's closed at $242.21 per share Monday, down roughly 2.3% year-to-date.

The pizza chain has 17 "buy" ratings, nine "hold" ratings, and one "sell" rating from analysts, with a consensus price target of $281.38, according to Bloomberg data.

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