ticker: DLTR
Dollar Tree beats by $0.11, reports revs in-line; guides Q3 in-line; raises FY18 EPS above consensus, reaffirms comps
- Reports Q2 (Jul) earnings of $0.98 per share, $0.11 better thanthe Capital IQ Consensus of $0.87; revenues rose 5.7% year/year to $5.28 bln vs the $5.24 bln Capital IQ Consensus.
- Enterprise same-store sales increased 2.4% vs. slightly positive to low single digit guidance. The same-store sales growth was driven by increases in comparable transaction count and average ticket. Same-store sales for the Dollar Tree banner increased 3.9%. Same-store sales for the Family Dollar banner increased 1.0%.
- Gross profit increased 7.6% to $1.63 billion compared to $1.51 billion in the prior year's second quarter. As a percent of sales, gross margin increased to 30.8% compared to 30.3% in the prior year. The 50 basis point improvement was driven primarily by lower merchandise and freight costs and lower markdowns in the current quarter, partially offset by higher distribution and occupancy costs.
- Co issues in-line guidancefor Q3, sees EPS of $0.83-0.90 vs. $0.86 Capital IQ Consensus Estimate; sees Q3 revs of $5.20-5.29 bln vs. $5.26 bln Capital IQ Consensus Estimate; low single digit comps.
- Co issues guidancefor FY18, raises EPS to $4.58-4.74 from $4.31-4.57, excluding non-recurring items, vs. $4.49 Capital IQ Consensus Estimate; sees FY18 revs of $22.07-22.28 bln vs. $22.13 bln Capital IQ Consensus; reaffirms low-single digit comps.
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