Dollar Tree, Inc. (DLTR) said, for fiscal 2022, the company now expects earnings per share to be in the lower half of the company’s previously provided outlook range of $7.10 to $7.40. Consolidated net sales are now projected to range from $28.14 billion to $28.28 billion, revised from the previous outlook range of $27.85 billion to $28.10 billion. The company expects to deliver a mid-single-digit comparable store sales increase for the year, comprised of a high single-digit increase in the Dollar Tree segment and a low-single-digit increase in the Family Dollar segment.
Analysts polled by Thomson Reuters expect the company to report profit per share of $7.32 on revenue of $28.08 billion. Analysts’ estimates typically exclude special items.
The company expects consolidated net sales for the fourth quarter will range from $7.54 billion to $7.68 billion, based on a mid- to high-single-digit increase in same-store sales for the enterprise.
Third quarter net income increased 23.1% to $266.9 million and earnings per share increased 25.0% to $1.20. Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
Third quarter consolidated net sales increased 8.1% to $6.94 billion. Enterprise same-store sales increased 6.5%. Dollar Tree comparable store sales increased 8.6%, or was up 8.5% when adjusted for currency fluctuations. Analysts on average had estimated $6.84 billion in revenue.
Shares of Dollar Tree are down 3% in pre-market trade on Tuesday.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Source: Read Full Article