Dollar General Corporation (NYSE: DG) reported its second quarter 2024 earnings results today.
Net sales increased 4.2% to $10.2 billion compared to the same period a year ago. Same-store sales increased 0.5%.
Net income decreased 20.2% to $374.2 million, or $1.70 per share, compared to last year.
The top and bottom line numbers missed estimates.
The company lowered its guidance for fiscal year 2024. It now expects net sales growth of approx. 4.7-5.3%, compared to its previous expectation of approx. 6.0-6.7%.
Same-store sales growth is now expected to be approx. 1.0-1.6%, compared to the prior range of 2.0-2.7%. EPS is now expected to be approx. $5.50-6.20, compared to the previous outlook of approx. $6.80-7.55.
The earnings miss and the guidance cut sent the stock crashing over 21% in premarket hours on Thursday.