Dollar General Q4 EPS Meets Estimates; Declares Dividend
(RTTNews) - Dollar General Corp. (DG) reported Thursday that net income for the fourth quarter grew to $659.14 million or $2.96 per share from $597.43 million or $2.57 per share in the prior-quarter.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.43 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased 17.9 percent to $10.20 billion from $8.65 billion in the same quarter last year. Analysts expected net sales of $10.24 billion for the quarter.
Same-store sales increased 5.7 percent, riven by an increase in average transaction amount, partially offset by a modest decrease in customer traffic.
Looking ahead to fiscal 2023, the company now projects earnings growth in a range of about 4 to 6 percent on net sales growth of 5.5 to 6.0 percent, with same-store sales decline in the 3.0 to 3.5 percent range.
The Street is looking for earnings of $11.43 per share on net sales growth of 5.8 percent to $40.07 billion for the year.
The company also reiterated its plans to execute 3,170 real estate projects in fiscal 2023, including 1,050 new store openings, 2,000 remodels, and 120 store relocations.
On Wednesday, the Company's Board of Directors declared an increased quarterly cash dividend of $0.59 per share on the Company's common stock, payable on or before April 25, 2023 to shareholders of record on April 11, 2023.
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