01.12.2022 16:00:50
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Dollar General Falls As Q3 Results Miss Estimates, Outlook Cut
(RTTNews) - Shares of discount retailer Dollar General Corporation (DG) are falling more than 9% Thursday morning after the company's third-quarter results missed analysts' view. The company also cut its fourth-quarter earnings outlook citing greater-than-anticipated gross margin pressures.
Dollar General reported net income of $526.2 million or $2.33 per share for the third quarter, an increase from $487.0 million or $2.08 per share last year. Analysts on average pooed by Thomson-Reuters were expecting earnings of $2.53 per share.
Net sales increased 11.1% to $9.5 billion in the third quarter of 2022 compared to $8.5 billion in the third quarter of 2021. The consensus estimate was for $9.43 billion.
The company said it had higher-than-anticipated supply chain costs during the third quarter, which it expects to continue to the fourth quarter.
Dollar General reduced its fourth-quarter EPS outlook to $3.15 - $3.30, a 7% - 8% growth from the previous outlook of 12% - 14% increase. Analysts expect earnings of $3.67 for the quarter.
DG, currently at $232.18, has traded in the range of $183.25-$262.21 in the last 1 year.

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Aktien in diesem Artikel
Dollar General Corporation | 72,79 | 0,32% |
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