Dollar Tree Inc. (NASDAQ: DLTR) reported its fiscal first-quarter results before the markets opened on Thursday. The company said it had $0.89 in earnings per share (EPS) on $5.09 billion in revenue. Thomson Reuters consensus estimates called for $0.81 in EPS on revenues of $5.10 billion. In the same period of last year, it posted EPS of $0.71 and $2.18 billion in revenue.
In terms of the outlook for the fiscal second quarter, the company expects to have net sales in the range of $5.03 billion to $5.12 billion and EPS in the range of $0.66 to $72. The consensus estimates call for $0.75 in EPS on $5.09 billion in revenue for the current quarter.
On the books, Dollar Tree’s cash and cash equivalents totaled $929.7 million at the end of the quarter, compared to $870.4 million in the same period from last year.
Bob Sasser, CEO of Dollar Tree, commented:
I am very pleased with the Company’s performance in the first quarter. Through what continues to be a challenging economic environment, we delivered sales of $5.09 billion, which was the mid-point of our guidance range, and earnings that exceeded the high end of our guidance range. Additionally, while not included in our comp calculation, our Family Dollar segment delivered its third consecutive quarter of positive same-store sales.
He added:
We have gotten off to a successful start to 2016. We continue to serve a loyal customer base by providing terrific values every day; we remain on schedule with our integration of Family Dollar; we are on track to achieve our stated synergy targets; and we are part of what I consider, in this economic environment, the most attractive sector in retail. Looking ahead, we are committed to growing and improving our Dollar Tree and Family Dollar businesses to better serve more customers, while delivering long-term value to our shareholders.
Dollar Tree shares closed Wednesday up 1% at $78.36. The stock as a consensus analyst price target of $89.16 and a 52-week trading range of $60.31 to $83.72. In early trading indications the stock was up nearly 8% at $84.50.
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