Dollar Tree Shares Are Sliding: What's Going On?

Dollar Tree Inc DLTR shares are trading lower Tuesday after the company reported third-quarter results.

Dollar Tree said third-quarter revenue jumped 8.1% year-over-year to $6.94 billion, which beat average analyst estimates of $6.84 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.20 per share, which beat average estimates of $1.18 per share.

"Our third quarter sales performance reflects the timely execution of merchandising initiatives to drive our consumables business in this uncertain and inflationary environment. Same-store sales for both segments improved from the prior quarter and delivered a sequential monthly improvement throughout the quarter," said Mike Witynski, president and CEO of Dollar Tree.

Dollar Tree expects fourth-quarter revenue to be between $7.54 billion and $7.68 billion versus average analyst estimates of $7.52 billion. The company also raised its full-year revenue guidance from a range of $27.85 billion to $28.1 billion to a range of $28.14 billion to $28.28 billion.

See Also: Best Buy Stock Is Surging Today: What's Going On?

DLTR Price Action: Dollar Tree has a 52-week high of $177.19 and a 52-week low of $123.62.

The stock was down 3.96% at $158.70 at time of publication.

Photo: Mike Mozart from Flickr.