- Dollar Tree (NASDAQ:DLTR) stock is jumping on an earnings beat.
- That includes EPS and revenue results coming in above estimates.
- The retailer also increased its outlook for 2022.
First up is the retail company’s diluted earnings per share of $2.37. This easily beats out Wall Street’s estimate of $2 per share for the quarter. It also represents a 48.1% increase over the $1.60 per share reported during the same time last year.
To go along with that, Dollar Tree reported revenue of $6.9 billion. That’s another beat compared to the $6.76 billion that analysts were looking for in the period. It’s also a 6.5% jump year-over-year from $6.48 billion.
In a surprise twist, Dollar Tree also announced an increase to its outlook for the full year of 2022. This now has it expecting diluted EPS ranging from $7.80 to $8.20, It’s prior guidance was between $7.60 and $8.00.The midpoint of the new outlook sits just above Wall Street’s estimate of $7.97 per share.
Another highlight for DLTR stock is its 2022 revenue guidance of $27.76 billion to $28.14 billion. That’s another increase compared to its previous guidance of $27.22 billion to $27.85 billion. It’s also looking good next to analysts’ 2022 revenue estimate of $27.95.
All of this positive earnings news has DLTR stock seeing heavy trading on Thursday. This has some 3.6 million shares on the move as of this writing. For comparison, the company’s daily average trading volume is closer to 2.6 million shares.
DLTR stock is up 17.9% as of Thursday morning.
There’s more stock market news worth jumping into below!
We’ve got all the hottest stock news traders need to know about for Thursday! Among that is what’s going on with shares of Vinco Ventures (NASDAQ:BBIG) stock, Macy’s (NYSE:M) stock, and Snowflake (NYSE:SNOW) stock today. You can read up on that news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.