Dollar Tree, Inc. (NASDAQ:DLTR) stock was on the rise Tuesday following the release of its earnings report for the third quarter of 2016.
Dollar Tree, Inc. reported earnings per share of 72 cents for the third quarter of 2016. This is an increase over its earnings per share of 35 cents from the same time last year. Wall Street was looking for earnings per share of 78 cents for the quarter.
Dollar Tree, Inc. noted that its earnings per share for the third quarter of 2016 suffered due to expenses connected to its debt refinancing. This hurt its earnings per share by 9 cents. When adding this back, it has the company’s earnings per share for the quarter coming in above analysts’ estimate at 81 cents.
Revenue reported by Dollar Tree, Inc. in the third quarter of 2016 was $5.00 billion. The variety store company reported revenue of $4.95 billion in its third quarter of 2015. Wall Street was expecting DLTR to report revenue of $5.08 in the third quarter of the year.
Dollar Tree, Inc. also updated its outlook in for the fourth quarter of 2016 in its recent earnings report. DLTR expects revenue between $5.59 billion and $5.69 billion during this time. It’s also looking for earnings per share to range from $1.24 to $1.33. Wall Street is looking for revenue of $5.63 billion and earnings per share of $1.29 for the upcoming quarter.
Dollar Tree, Inc. is expecting revenue to range from $20.67 billion to $20.77 billion for the full year of 2016. It is also expecting earnings per share for the year to be between $3.67 and $3.76. Analysts are expecting revenue of $20.86 billion and earnings per share of $3.80 in 2017. The updated outlook for the year includes the 9-cent-per-share expense for debt refinancing.
DLTR stock was up 9% as of Tuesday afternoon.
