Dollar Tree beats Street 2Q forecasts

Markets Associated Press

AP

Dollar Tree Inc. on Thursday reported fiscal second-quarter earnings of $233.8 million.

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The Chesapeake, Virginia-based company said it had net income of 98 cents per share. Earnings, adjusted for asset impairment costs, were 99 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The discount retailer posted revenue of $5.28 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $5.23 billion.

For the current quarter ending in November, Dollar Tree said it expects revenue in the range of $5.2 billion to $5.29 billion.

The company expects full-year earnings to be $4.44 to $4.60 per share, with revenue ranging from $22.07 billion to $22.28 billion.

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Dollar Tree shares have decreased nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 9 percent. The stock has declined 22 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on DLTR at https://www.zacks.com/ap/DLTR

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Keywords: Dollar Tree, Earnings Report