Dollar Tree, Inc. (NASDAQ: DLTR) reported second quarter 2023 earnings results today.
Consolidated net sales increased 8.2% to $7.32 billion compared to the same period a year ago. Enterprise same-store sales increased 6.9%.
Net income was $200.4 million, or $0.91 per share, compared to $359.9 million, or $1.60 per share, last year. Adjusted EPS rose 43% to $0.91.
Both revenue and earnings beat estimates.
For the third quarter of 2023, the company expects consolidated net sales of $7.3-7.5 billion, based on a mid-single-digit increase in same-store sales for the enterprise, and for the Dollar Tree and Family Dollar segments. EPS is estimated to be $0.94-1.04.
Consolidated net sales for full-year 2023 are now expected to range from $30.6-30.9 billion. The company expects to deliver a mid-single-digit comparable store sales increase for the year, comprised of mid-single-digit increases in the Dollar Tree and Family Dollar segments. EPS is projected to be $5.78-6.08.
The stock dropped over 4% in premarket hours on Thursday.
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