Dollar Tree, Inc. (NASDAQ: DLTR) reported its second quarter 2024 earnings results today.
Consolidated net sales increased 0.7% year-over-year to $7.37 billion. Enterprise same-store net sales rose 0.7%.
Net income was $132.4 million, or $0.62 per share, compared to $200.4 million, or $0.91 per share, last year. Adjusted EPS was $0.67.
Revenue and earnings both missed estimates, sending the stock crashing over 12% in premarket hours on Wednesday.
For fiscal year 2024, consolidated net sales are expected to range between $30.6-30.9 billion. The company expects to deliver comparable store net sales growth in the low-single-digits for the enterprise and both the Dollar Tree and Family Dollar segments. Adjusted EPS is expected to range from $5.20-5.60.
The company expects consolidated net sales for the third quarter of 2024 to be $7.4-7.6 billion, based on comparable store net sales growth in the low-single-digits for the enterprise and both the Dollar Tree and Family Dollar segments. Adjusted EPS for Q3 2024 is expected to be $1.05-1.15.