Dollar Tree, Inc. (NASDAQ:DLTR) stock was hit hard today after reporting an earnings miss for the fourth quarter of 2017.
During the fourth quarter of the year, Dollar Tree, Inc. reported earnings per share of $1.89. This is an increase over its earnings per share of $1.36 from the same period of the year prior. However, it was a blow to DLTR stock by coming in just below Wall Street’s earnings per share estimate of $1.90 for the quarter.
Dollar Tree, Inc.’s net income reported in the fourth quarter of 2017 was $1.04 billion. This is up from its net income of $321.80 million that was reported in the fourth quarter of 2016. DLTR notes that it got a one-time boost of $583.70 million from the recent tax reform in the U.S.
Operating income reported by Dollar Tree, Inc. for the fourth quarter of 2017 was $765.60 million. The retail chain’s operating income from the same time last year was $586.50 million.
Dollar Tree, Inc. also reported revenue of $6.36 billion for the fourth quarter of the year. This is better than its revenue of $5.64 billion that was reported in the same quarter of the previous year. Despite this, it was still bad news for DLTR stock by missing analysts’ revenue estimate of $6.39 billion for the period.
Dollar Tree, Inc.’s recent earnings report also includes its outlook for the full year of 2018. This includes earnings per share ranging from $5.25 to $5.60. Wall Street is looking for earnings per share of $5.90 for the year.
Dollar Tree, Inc. says that it is expecting revenue for the full year of 2018 to come in between $22.70 billion and $23.12 billion. Analysts are estimating revenue of $23.10 billion for the year.
DLTR stock was down 15% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.