Dollar Tree (NASDAQ:DLTR) earnings for first quarter of 2020 have DLTR stock taking off on Thursday. That’s thanks to its adjusted earnings per share (EPS) of $1.04 on revenue of $6.29 billion. These both come in well above Wall Street’s estimates of 91 cents per share and revenue of $6.11 billion.
Here are some additional highlights from the most recent Dollar Tree earnings report.
- Adjusted EPS is down 8.8% compared to $1.14 in the first quarter of 2019.
- Revenue is sitting 6.2% higher than the $5.81 billion reported in the same period of the year prior.
- Operating income of $365.9 million is a 5.1% decrease year-over-year from $385.5 million.
- The Dollar Tree earnings report also has net income coming in at $247.6 million.
- That’s a 7.6% drop from the company’s net income of $267.9 million reported during the same time last year.
Mike Witynski, enterprise president of Dollar Tree, said this about the quarter:
“Family Dollar delivered strong same-store sales with a 15.5% increase and a 230 basis point improvement in operating margin. Dollar Tree same-store sales decreased by 90 basis points, as the seasonal and discretionary business was materially impacted by lower Easter holiday sales. The most negatively impacted categories – party, candy, and Easter – affected Dollar Tree’s overall comp for the quarter by approximately 490 basis points.”
Dollar Tree is continuing to withhold its outlook due to the novel coronavirus. That has it following a trend many other companies are taking part in during the pandemic.
DLTR stock was up 10.1% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.