Dollar Tree, Inc. (NASDAQ: DLTR) reported first quarter 2023 earnings results today.
Consolidated net sales increased 6.1% year-over-year to $7.32 billion. Enterprise same-store sales increased 4.8%.
Net income was $299 million, or $1.35 per share, compared to $536.4 million, or $2.37 per share, last year. Adjusted EPS was $1.47.
Sales beat estimates but earnings fell short of expectations, causing the stock to plunge 11% in premarket hours on Thursday.
For the second quarter of 2023, consolidated net sales are expected to range from $7.0-7.2 billion and EPS is estimated to be $0.79-0.89. Consolidated net sales for fiscal year 2023 are expected to range from $30.0-30.5 billion while EPS is projected to be $5.73-6.13.