Dollar Tree Inc DLTR posted better-than-expected fourth-quarter FY24 earnings on Wednesday.
On Wednesday, the company reported fourth-quarter sales of $8.26 billion, beating the analyst consensus estimate of $8.24 billion. Adjusted EPS of $2.29 also beat the consensus estimate of $2.19.
Dollar Tree reached an agreement today, under which Brigade Capital Management, LP (Brigade) and Macellum Capital Management, LLC (Macellum) will partner to acquire the company's Family Dollar business segment for $1.007 billion.
"In the fourth quarter, our team was focused on successfully closing out the year, bringing the strategic review to a favorable conclusion, and setting Dollar Tree on a path to realize its full potential to create long-term value for our associates, customers, and shareholders," said CEO Mike Creedon.
Dollar Tree sees FY25 sales from continuing operations of $18.5 billion – $19.1 billion. Same store sales growth of 3% – 5%. The company anticipates FY25 adjusted EPS from continuing operations of $5.00 – $5.50. Dollar Tree sees first-quarter revenue from continuing operations of $4.5 billion – $4.6 billion. Same store sales growth of 3% – 5%. The company expects first-quarter adjusted EPS of $1.10 – $1.25.
Dollar Tree shares gained 7.2% to trade at $74.21 on Thursday.
These analysts made changes to their price targets on Dollar Tree following earnings announcement.
- Telsey Advisory Group analyst Joseph Feldman maintained Dollar Tree with a Market Perform rating and raised the price target from $75 to $82.
- Evercore ISI Group analyst Greg Melich maintained the stock with an In-Line rating and raised the price target from $79 to $85.
- Truist Securities analyst Scot Ciccarelli maintained Dollar Tree with a Buy rating and boosted the price target from $76 to $84.
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