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Thursday, March 15, 2018

=Dollar General (DG) reported earnings on Thur 15 March 18 (b/o)

Dollar General reports EPS in-line, misses on revs; guides FY19 EPS above consensus, revs above consensus; Q4 comps +3.3%; increases quarterly dividend 12% to $0.29/share; increases share repurchase by $1 bln 
  • Reports Q4 (Jan) earnings of $1.48 per share, excluding non-recurring items, in-linewith the Capital IQ Consensus of $1.48; revenues rose 2.0% year/year to $6.13 bln vs the $6.2 bln Capital IQ Consensus. Q4 same-store sales increased 3.3%
  • Co issues upside guidance for FY19, sees EPS of $5.95-6.15, excluding non-recurring items, vs. $5.58 Capital IQ Consensus Estimate; sees FY19 revs of +9% to ~$25.58 bln vs. $25.44 bln Capital IQ Consensus Estimate. FY19 Guidance Details: Company expects net sales to increase approximately nine percent, with same-store sales growth estimated to be in the mid-two percent range. The Company expects the fiscal year 2018 operating margin rate to be relatively unchanged as compared to the fiscal year 2017 operating margin rate.
  • The Company expects to continue to use the long-term growth model, which was announced on March 10, 2016, internally to assess and benchmark its results and strategic plans; however, the Company does not intend to discuss externally any guidance or results in the context of the long-term growth model. The Company currently anticipates a cash benefit of approximately $300 million in fiscal 2018 as a result of the TCJA.
  • On March 14, 2018, the Company's Board of Directors approved a quarterly cash dividend of $0.29 per share, which is a 12% increase over the prior quarterly dividend, payable on or before April 24, 2018 to shareholders of record of the Company's common stock on April 10, 2018.
  • On March 14, 2018, the Company's Board of Directors increased the authorization under the share repurchase program by $1.0 billion. 

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