DG Stock: 3.62% Decrease Explanation
Feb 24th, 2023 1:44 EST
- The stock price of Dollar General Corp (NYSE: DG) fell by 3.62% in the most recent trading session. This is why.
The stock price of Dollar General Corp (NYSE: DG) fell by 3.62% in the most recent trading session. Why: Dollar General announced certain preliminary financial results for the fourth quarter and fiscal year ending February 3, 2023. The company plans to provide its full financial results for the fiscal 2022 fourth quarter and full year on March 16, 2023.
The company is expecting to report financial results for the fiscal 2022 fourth quarter and full year below the expectations provided on its conference call on December 1, 2022.
Despite continued market share gains in sales of both consumable and non-consumable products, same-store sales for the fourth quarter increased by 5.7%, compared to the company’s previous expectation of approximately 6% to 7%. And the company now expects diluted earnings per share for the fourth quarter in the range of $2.91 – $2.96, compared to its previous expectation in the range of $3.15 – $3.30. The consensus estimated a Q4 EPS of $3.24.
For the fiscal year, the same-store sales increased 4.3% compared to the company’s previous expectation of being toward the upper end of a range of 4.0% – 4.5%, and the company expects diluted earnings per share growth in the range of approximately 4.5% – 5.0%, compared to its previous expectation of approximately 7% – 8%.
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