Dollar General (NYSE:DG) stock is on the move Thursday as investors react to second-quarter earnings news from the retail company.
Dollar General reported diluted earnings per share of $2.98 for Q2 2022. That ends up beating Wall Street’s estimate of $2.93 for the period. It’s also an increase over the $2.69 reported in the same period of the year prior.
To go along with that, holders of DG stock also saw revenue of $9.43 billion. Yet again, that’s a positive as analysts were looking for the retailer to report revenue of $9.4 billion. It’s also an improvement over the $8.65 billion reported in the second quarter of 2021.
DG Expects a Strong 2022
Todd Vasos, CEO of Dollar General, said the following in the earnings report:
Looking ahead, we are confident that our strategic actions, which have transformed this company in recent years and solidified Dollar General as the clear leader in small-box discount retail, have positioned us well for continued success, while supporting long-term shareholder value creation.
Dollar General also updated its guidance for the full year of 2022. It now expects revenue growth of roughly 11%. Its prior estimate was for revenue growth between 10% and 10.5%. The company still expects diluted EPS growth to range from 12% to 14% this year.
DG stock has only seen around 1.3 million shares move as of this writing. That’s still below its daily average trading volume of 1.7 million shares, even after beating Q2 estimates.
DG stock is up slightly Thursday morning after seeing larger gains in pre-market trading.
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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.