Why Variety Stores Chain Dollar General's Shares Are Shooting Higher Today
Portfolio Pulse from Shivani Kumaresan
Dollar General Corp (NYSE:DG) reported Q3 FY23 sales of $9.69 billion, surpassing estimates of $9.65 billion. Same-store sales fell 1.3%, and gross profit margin dropped to 29%. Operating income declined 41.1% to $433.5 million. EPS of $1.26 beat estimates of $1.19. The company declared a quarterly dividend of $0.59 per share and reaffirmed its FY23 sales growth outlook of 1.5% to 2.5% with EPS of $7.10 to $7.60. Shares rose 4.46% in premarket trading.
December 07, 2023 | 1:26 pm
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Dollar General's Q3 report showed higher-than-expected sales and EPS, a declared dividend, and a reaffirmed positive outlook, leading to a premarket stock price increase.
Dollar General's stock is likely to experience a short-term positive impact due to the reported earnings beat, higher EPS, and declared dividend, which are strong indicators of the company's financial health and management's confidence. The reaffirmed outlook for FY23 suggests stability and potential growth, which typically resonates well with investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100