DOLLAR GENERAL CORP (DG) Earnings History

DOLLAR GENERAL CORP - Q4 FY2025 EarningsBeat

Filed at: Mar 12, 2026, 8:00 AM EDT|Read from source

EXECUTIVE SUMMARY

Dollar General reported strong fourth quarter and full fiscal year 2025 results, driven by increased net sales, same-store sales growth, and significant operating profit and EPS expansion. The company's strategy, focused on value and convenience, continues to resonate, particularly in the communities it serves, and it is poised for continued growth in fiscal year 2026.

POSITIVE HIGHLIGHTS

  • •

    Fourth Quarter Net Sales Increased 5.9% to $10.9 Billion; Fiscal Year Net Sales Increased 5.2% to $42.7 Billion

    positive
  • •

    Fourth Quarter Same-Store Sales Increased 4.3%; Fiscal Year Same-Store Sales Increased 3.0%

    positive
  • •

    Fourth Quarter Operating Profit Increased 106.1% to $606.3 Million; Fiscal Year Operating Profit Increased 28.6% to $2.2 Billion

    positive
  • •

    Fourth Quarter Diluted Earnings Per Share Increased 121.8% to $1.93; Fiscal Year Diluted EPS Increased 34.1% to $6.85

    positive
  • •

    Annual Cash Flow From Operations Increased 21.3% to $3.6 Billion

    positive
  • •

    Gross profit as a percentage of net sales increased 105 basis points in Q4 FY2025 and 107 basis points in FY2025, driven by lower shrink, higher inventory markups, and lower inventory damages.

    positive
  • •

    Selling, General and Administrative Expenses as a percentage of net sales decreased 165 basis points in Q4 FY2025, primarily due to lower impairment charges and retail salaries.

    positive

CONCERNS & RISKS

  • •

    Merchandise inventories decreased 7.0% on an average per-store basis, which could indicate a shift in inventory management strategy or potential stock-outs if not managed carefully.

    attention
  • •

    The effective income tax rate increased in Q4 FY2025 to 21.8% from 16.2% in Q4 FY2024, and to 23.0% in FY2025 from 21.8% in FY2024, primarily due to higher state effective tax rates and decreased benefits from tax credits.

    attention
  • •

    Diluted EPS guidance for FY2026 assumes a negative impact of approximately $0.13 due to the expiration of the Work Opportunity Tax Credit.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$10.91B
+5.9%
Prior year: $10.30B
Annual (YTD)
$42.72B
N/A
Prior year: $40.61B
Net Income
Quarterly
$426.30M
+122.9%
Prior year: $191.22M
Annual (YTD)
$1.51B
N/A
Prior year: $1.13B
EPS (Diluted)
Quarterly
$1.93
+121.8%
Prior year: $0.87
Operating Income
Quarterly
$606.28M
+106.1%
Prior year: $294.21M
Annual (YTD)
$2.20B
N/A
Prior year: $1.71B
EPS (Basic)
Quarterly
$1.94
+122.9%
Prior year: $0.87

MARGIN ANALYSIS

Gross Margin
Current Quarter
30.4%
Prior Year
29.4%
YoY Change
+105 bps
Operating Margin
Current Quarter
5.6%
Prior Year
2.9%
YoY Change
+270 bps
Net Margin
Current Quarter
3.9%
Prior Year
1.9%
YoY Change
+205 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

REVENUE BY SEGMENT — Q4 FY2025 2025

VISUAL OVERVIEW

|
Consumables
0.0%
N/A
Seasonal
0.0%
N/A
Home products
0.0%
N/A
Apparel
0.0%
N/A

DETAILED BREAKDOWN

|
SegmentCurrentPrior YrYoY% Total
Consumables
N/A———
Seasonal
N/A———
Home products
N/A———
Apparel
N/A———
Total Revenue$0.00M——100.0%

Segment performance shows business unit health and growth drivers.

MANAGEMENT GUIDANCE

FY2026

Net sales growth
$0.0M—$0.0M
Mid-point: $0.0M
"approximately 3.7% to 4.2%"
Same-store sales growth
$0.0M—$0.0M
Mid-point: $0.0M
"approximately 2.2% to 2.7%"
Diluted EPS
$7.10—$7.35
Mid-point: $7.22
"approximately $7.10 to $7.35"
Capital expenditures
1,400,000,000—1,500,000,000
Mid-point: 1,450,000,000
"in the range of $1.4 billion to $1.5 billion"

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

MANAGEMENT COMMENTARY

We are pleased with our strong fourth quarter and fiscal year results, and I want to thank our employees for their unwavering commitment to Serving Others.

— DOLLAR GENERAL CORP, Q4 FY2025 2025 Earnings Call

Our fourth quarter performance was highlighted by a 4.3% increase in same-store sales and continued advancement of our key initiatives, which contributed to strong operating margin expansion and EPS growth that well exceeded our expectations.

— DOLLAR GENERAL CORP, Q4 FY2025 2025 Earnings Call

Overall, this momentum reflects the progress we’ve made with our strategy and the continued relevance of our unique combination of value and convenience, particularly in the thousands of rural communities we serve.

— DOLLAR GENERAL CORP, Q4 FY2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Average Transaction Amount
1.7
%
Customer Traffic
2.6
%
New Stores Opened
581
stores
Same Store Sales
4.3
%
Store Count
20.9K
stores
Stores Relocated
47
stores
Stores Remodelled
4.3K
stores

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.

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