© Reuters. Greenback Tree (DLTR) slips as earnings, outlook path analyst estimates
Greenback Tree (NASDAQ:) reported softer-than-expected earnings for the third quarter, sending its shares almost 3% decrease in early Wednesday commerce.
The corporate posted adjusted earnings per share of 97 cents for the third quarter, falling wanting the $1.20 reported in the identical interval final 12 months and beneath the estimated $1.01.
Web gross sales for the quarter have been $7.31 billion, reflecting a 5.4% year-over-year enhance, however barely beneath the estimated $7.40 billion.
“Our third-quarter results were within our expectations thanks to continued execution across all aspects of our business transformation,” mentioned Rick Dreiling, Chairman and Chief Government Officer.
“In a challenging environment, our performance was among the best in retail as we continue to grow traffic, unit, and sales per square foot.”
Greenback Tree’s web gross sales have been $4.00 billion, up 6.6% year-over-year, whereas Household Greenback’s web gross sales have been $3.31 billion, exhibiting a 3.9% YoY enhance.
The gross revenue margin was 29.7%, down from 29.9% final 12 months and barely beneath the estimated 29.8%.
Wanting forward, Greenback Tree expects FY2024 EPS within the vary of $5.81 to $6.01, in comparison with the consensus estimate of $5.97. Income is seen coming in between $30.5 billion and $30.7 billion, whereas analysts have been on the lookout for $30.82 billion.
For this quarter, DLTR sees adjusted EPS at $2.68 (up or down 10 cents) on income of $8.7 billion (up or down $100 million). The consensus was on the lookout for EPS of $2.57 on income of $8.73 billion.
