Dollar General Corporation (DG - Free Report) , one of the largest discount retailers, came out with first-quarter fiscal 2018 results, wherein earnings of $1.36 missed the Zacks Consensus Estimate of $1.40 but improved 33.3% from the prior-year quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has increased by a penny in the last 30 days. Moreover, in the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 2.3%.
Revenues: Dollar General generated net sales of $6,114.5 million that increased 9% year over year. Top-line however missed the Zacks Consensus Estimate of $6,189 million. Further, same store sales improved 2.1%.
Key Events: The Board declared a quarterly dividend of 29 cents per share that is payable by Jul 24, 2018 to shareholders of record as on Jul 10, 2018. Further, it repurchased 1.6 million shares for $150 million in the quarter.
Outlook: Management reiterated its guidance for fiscal 2018. It continues to anticipate net sales for fiscal 2018 to increase by 9%, year-on-year. Same store sales are expected to soar in mid-two percentage in fiscal 2018. Further, GAAP earnings for the fiscal are expected in the range of $5.95 -6.15.
Zacks Rank: Currently, Dollar General has a Zacks Rank #2 (Buy), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Shares of Dollar General fell 5.7% during pre-market trading hours following the dismal first-quarter fiscal 2018 results.
Check back later for our full write up on Dollar General’s earnings report!
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