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Company Earnings Update

Dollar General (DG) 1Q17 Results: Beats on EPS and Sales, Lifts Outlook

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Coresight Research

Key Points

  • Dollar General reported 1Q17 adjusted EPS of $1.03, flat versus the year-ago quarter and slightly above the $1.00consensus estimate. Total revenues were $5.61 billion versus expectations of $5.58 billion, and were up 6.5% year over year.
  • Total comps increased by 0.7% for the quarter, in line with the consensus estimate; comp growth was driven by an increase in average transaction that was partially offset by a decline in traffic. Comp sales were driven by positive results in consumables and apparel categories that were partially offset by results in home and seasonal categories.
  • Dollar General reaffirmed its FY17 EPS guidance of $4.25–$4.50 compared with consensus of $4.46.The company expects comps to be “slightly positive” to up 2%. The company raised its full-year guidance for revenue growth from 4%–6% to 5%–7%, assuming the pending acquisition of 322 small-box retail stores is completed. The consensus estimate calls for full-year revenue growth of 5.5%.

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