Family Dollar: Q3 Earnings Narrowly Miss, Shares Fall

Investors send shares lower despite double-digit earnings grow

   

Family Dollar: Q3 Earnings Narrowly Miss, Shares Fall

Family Dollar (NYSE:FDO) said its fiscal third-quarter earnings rose 12% to $124.5 million, compared to $111.1 million during the same time last year.

EPS for the third quarter came in at $1.06, up from 91 cents last year. That narrowly missed Wall Street, which was looking for EPS of $1.07, Fox News noted.

family dollar sign 630 200x200 Family Dollar: Q3 Earnings Narrowly Miss, Shares Fall
Family Dollar Stock Rates a Strong Buy

The discount chain’s revenues climbed 9.6% during the quarter to $2.36 billion. But that also fell just short of the $2.37 billion analysts had predicted.

Investors were not happy with the results. Family Dollar shares slid more than 3% in Thursday morning trading.

The company estimated EPS for the current quarter at between 71 cents and 81 cents. That compared to analysts’ forecast of 77 cents.

EPS for 2012 was projected between $3.60 and $3.70. Wall Street was looking for $3.67.

The company predicts that same-store sales will rise 5% and overall revenues will increase between 9% and 10% for the full year.


Article printed from InvestorPlace Media, http://investorplace.com/2012/06/family-dollar-q3-earnings-narrowly-miss-shares-fall/.

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