Close

Dollar Tree (DLTR) slips as earnings, outlook trail analyst estimates

November 29, 2023 6:46 AM EST

Dollar Tree (NYSE: DLTR) reported softer-than-expected earnings for the third quarter, sending its shares nearly 3% lower in early Wednesday trade.

The company posted adjusted earnings per share of 97 cents for the third quarter, falling short of the $1.20 reported in the same period last year and below the estimated $1.01.

Net sales for the quarter were $7.31 billion, reflecting a 5.4% year-over-year increase, but slightly below the estimated $7.40 billion.

“Our third-quarter results were within our expectations thanks to continued execution across all aspects of our business transformation,” said Rick Dreiling, Chairman and Chief Executive Officer.

“In a challenging environment, our performance was among the best in retail as we continue to grow traffic, unit, and sales per square foot.”

Dollar Tree's net sales were $4.00 billion, up 6.6% year-over-year, while Family Dollar's net sales were $3.31 billion, showing a 3.9% YoY increase.

The gross profit margin was 29.7%, down from 29.9% last year and slightly below the estimated 29.8%.

Looking ahead, Dollar Tree expects FY2024 EPS in the range of $5.81 to $6.01, compared to the consensus estimate of $5.97. Revenue is seen coming in between $30.5 billion and $30.7 billion, while analysts were looking for $30.82 billion.

For this quarter, DLTR sees adjusted EPS at $2.68 (up or down 10 cents) on revenue of $8.7 billion (up or down $100 million). The consensus was looking for EPS of $2.57 on revenue of $8.73 billion.

By Senad Karaahmetovic



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Earnings, Guidance, Hot Earnings, Hot Guidance, Hot List

Related Entities

Earnings, Senad Karaahmetovic