Dollar General (NYSE:DG) earnings for the first quarter of 2020 have DG stock lower on Thursday afternoon. This comes despite reported revenue of $8.45 billion was way above Wall Street’s estimate of $7.4 billion. The company’s adjusted earnings per share (EPS) of $2.56 also crushed analysts’ expectations of of $1.70 for the quarter.
Additionally, the company reported basic EPS of $2.58 for the quarter.
Here is what else is worth mentioning from the most recent Dollar General earnings report.
- Per-share earnings were 73% better than $1.48 during Q1 2019.
- Revenue for the quarter comes in 27.6% higher compared to $6.62 billion during the same time last year.
- Operating income of $866.78 million is 69.2% better year-over-year than $512.24 million.
- The Dollar General earnings report also includes a net income of $650.45 million.
- That’s 68.9% more than net income of $385.01 million from the first quarter of 2019.
Todd Vasos, chief executive officer of Dollar General, said this about the DG stock earnings:
“These are certainly unprecedented times, and our hearts go out to everyone who has been affected by the COVID-19 pandemic. We are very grateful for those serving on the front lines, and particularly our store associates, distribution center employees and private fleet drivers for their incredible efforts. In the midst of a very challenging operating environment, our team members have been tirelessly committed to fulfilling the Company’s mission of Serving Others, and we could not be more proud of how they have responded to the needs of our communities. As a result of their efforts, we are very pleased to report strong first-quarter financial results.”
Dollar General also announced in the release that it is withdrawing its fiscal 2020 guidance issued on March 12. This is due to the ongoing effects of the novel coronavirus. That said, we know what Wall Street is expecting. Analysts’ estimates call for EPS of $7.54 on revenue of $30.3 billion.
DG stock was down 3% as of Thursday afternoon.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.