Dollar General Q3 EPS $2.33 beats; cuts FY22 EPS growth view to ~7-8% from 12-14%

DOLLAR GENERAL CORP

2022-Q3 EPS reported $7.72 revenue$27,641,956,000

Net sales $9.5B (+11.1% YoY); same-store sales +6.8%; diluted EPS $2.33 (+12.0% YoY).
Gross margin 30.5% (-27 bps YoY) on higher LIFO, mix, distribution costs; inventory up 28.4%/store to $7.1B.
FY22 EPS growth guidance cut to ~7-8% from prior 12-14% (incl. 53rd-wk benefit); Q4 EPS guided $3.15-$3.30.
Board declared $0.55 quarterly dividend payable Jan 17, 2023; repurchased $546M in stock during Q3.
FY23 real estate plan: ~3,170 projects (1,050 new stores, 2,000 remodels, 125 relocations); Mexico expansion.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

DOLLAR GENERAL CORP reported fiscal year 2022 third quarter (13 weeks) ended October 28, 2022 results: revenue $9.5 billion, net income $526.2 million, EPS $2.33.

Period: fiscal year 2022 third quarter (13 weeks) ended October 28, 2022
Revenue: $9.5 billion
Net income: $526.2 million
EPS: $2.33
Result: reported results

Exact text from the filing

Net sales increased 11.1% to $9.5 billion in the third quarter of 2022 compared to $8.5 billion in the third quarter of 2021. The net sales increase was primarily driven by positive sales contributions from new stores and growth in same-store sales, partially offset by the impact of store closures. Same-store sales increased 6.8% compared to the third quarter of 2021, driven primarily by an increase in average transaction amount, as well as a modest increase in customer traffic. Same-store sales in the third quarter of 2022 included growth in the consumables category, partially offset by declines in each of the apparel, seasonal, and home products categories. Gross profit as a percentage of net sales was 30.5% in the third quarter of 2022 compared to 30.8% in the third quarter of 2021, a decrease of 27 basis points. This gross profit rate decrease was primarily attributable to an increased LIFO provision, which was driven higher by product costs; a greater proportion of sales coming fr

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Source: SEC EDGAR

accession 0001157523-22-001697

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