Dollar General (NYSE:DG) earnings for the second quarter of fiscal year 2020 have DG stock down on Thursday morning. This comes despite reported revenue of $8.68 billion beating Wall Street’s estimate of $8.35 billion. Additionally, the company’s adjusted earnings-per-share (EPS) of $3.12 was also above analysts’ expectations of $2.47 for the quarter.
The company also reported GAAP EPS of $3.12 during Q2 of 2020.
Here are the other major takeaways from the most recent Dollar General earnings report.
- Adjusted EPS was up 79.3% from 78 cents during Q2 2019;
- Revenue for the quarter comes in 24.4% higher compared to $6.98 billion during the same time last year;
- Operating income of $1.04 billion is 80.5% better year-over-year from $577.78 million.
- The Dollar General earnings report also includes a net income of $787.6 million.
- That’s 84% above the $426.56 million from the second quarter of 2019.
Todd Vasos, chief executive officer of Dollar General, said this about DG stock earnings:
“We continue to operate from a position of strength and are excited to announce the acceleration of several key strategic initiatives, including the rollout of DG Pickup, DG Fresh, and our Non-Consumables initiative, as well as an increase in our expected number of real estate projects for fiscal 2020. Our robust portfolio of initiatives, coupled with our expansive real estate footprint of nearly 17,000 store locations, positions us well to continue delivering value and convenience for our customers, while driving sustainable long-term growth and value for our shareholders.”
Also, the company is not issuing any EPS or revenue guidance for FY2020 due to the effect of the novel coronavirus. That said, we know what Wall Street is expecting. Analysts are calling for EPS of $9 on revenue of $32.33 billion for the period.
DG stock dropped 1% as of Thursday morning.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.