Dollar Tree earnings for the fourth quarter of 2018 gave DLTR stock a boost on Wednesday.
Dollar Tree (NASDAQ:DLTR) reported earnings per share of $1.93 for the fourth quarter of the year. This is better than the company’s earnings per share of $1.89 reported in the fourth quarter of 2017. It was also good news for DLTR stock by matching Wall Street’s earnings per share estimate for the period.
The most recent Dollar Tree earnings report also includes a net loss of $2.31 billion. This is a drop from the retail company’s net income of $1.04 billion reported in the same period of the year prior.
Operating loss reported by Dollar Tree in the fourth quarter of 2018 comes in at $2.15 billion. The company’s operating income reported in the fourth quarter of the previous year was $765.60 million.
Dollar Tree earnings for the fourth quarter of the year also include revenue of $6.21 billion. This is down from the company’s revenue of $6.36 billion reported during the same time last year. However, it was a blessing for DLTR stock by coming in above analysts’ revenue estimate of $6.19 billion for the quarter.
Dollar Tree also has major plans for the Family Dollar brand in 2019. The company says that it will be renovating at least 1,000 of the stores. There will also be 200 new stores opening and 390 stores closing down. Another 200 will be turned into Dollar Tree locations.
DLTR stock was up 3% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.