Dollar Tree Inc DLTR is trading lower Thursday after the company announced worse-than-expected second-quarter revenue results and issued third-quarter guidance below estimates.
Dollar Tree reported quarterly earnings of $1.23 per share, which beat the estimate of $1.01 per share. The company reported quarterly revenue of $6.34 billion, which came in below the estimate of $6.44 billion.
Dollar Tree expects third-quarter earnings to be in a range of 88 cents per share to 98 cents per share versus the estimate of $1.26 per share.
"We continued to see strong performance on the discretionary side of the business, and our key initiatives, including H2, Dollar Tree Plus and the new Combo Stores, are delivering compelling results. All three concepts have performed very well and we are significantly accelerating these initiatives in 2022 and beyond," said Michael Witynski, president and CEO of Dollar Tree.
DLTR Price Action: Dollar Tree has traded as high as $120.37 and as low as $84.41 over a 52-week period.
At last check Thursday, the stock was down 11.7% at $93.93.
Photo by Mike Mozart from Flickr.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
