Dollar General Corp. Q3 FY2023 results: revenue $9.7 billion, up 2.4% on the year

Dollar General Corp. (DG) reported revenue of $9.7 billion for Q3 FY2023, the quarter ended 3 November 2023, up 2.4% on the same quarter a year earlier. Net income was $276 million, down 47.5% on the year, and diluted earnings per share $1.26. The figures are the company's own, from the 10-Q it filed with the SEC on 7 December 2023.

Revenue$9.7 billionup 2.4%

Net income$276 milliondown 47.5%

Diluted EPS$1.26

QuarterQ3 FY2023ended 3 November 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	9,694	n/a	n/a	n/a
Cost of revenue	6,882	n/a	n/a	n/a
Gross profit	2,813	n/a	n/a	n/a
Gross margin	29.0%	n/a	n/a
Selling, general and administrative	2,379	n/a	n/a	n/a
Operating income	433	n/a	n/a	n/a
Operating margin	4.5%	n/a	n/a
Interest expense	82.3	n/a	n/a	n/a
Pre-tax income	351	n/a	n/a	n/a
Income tax	74.9	n/a	n/a	n/a
Effective tax rate	21.3%	n/a	n/a
Net income	276	n/a	n/a	n/a
Net margin	2.8%	n/a	n/a
Diluted EPS	$1.26	n/a	n/a	n/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	715	n/a	n/a	n/a
Capital expenditure	473	n/a	n/a	n/a
Free cash flow	243	n/a	n/a	n/a
Free cash flow margin	2.5%	n/a	n/a
Depreciation and amortisation	216	n/a	n/a	n/a
Share-based compensation	6.8	n/a	n/a	n/a
Dividends paid	129	n/a	n/a	n/a
Dividend per share	$0.59	n/a	n/a	n/a
Diluted shares, weighted	220m	n/a	n/a	n/a
Shares outstanding at period end	219m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Total assets	30,625	n/a	n/a	n/a
Cash and equivalents	365	n/a	n/a	n/a
Inventory	7,356	n/a	n/a	n/a
Goodwill	4,339	n/a	n/a	n/a
Long-term debt including finance leases	6,441	n/a	n/a	n/a
Operating lease liabilities	9,541	n/a	n/a	n/a
Finance lease liabilities	206	n/a	n/a	n/a
Shareholders' equity	6,452	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	9,694	9,859	9,914	10,210	10,183	10,304	10,436	10,728	10,649	10,911	10,787	11,290
Cost of revenue	6,882	6,952	6,922	7,151	7,247	7,275	7,205	7,366	7,465	7,589	7,376	7,609
Gross profit	2,813	2,906	2,992	3,059	2,936	3,030	3,231	3,362	3,184	3,322	3,410	3,681
Gross margin	29%	29%	30%	30%	29%	29%	31%	31%	30%	30%	32%	33%
SG&A	2,379	2,327	2,446	2,510	2,612	2,735	2,655	2,766	2,758	2,716	2,772	2,912
Operating income	433	580	546	550	324	294	576	595	426	606	639	769
Operating margin	4%	6%	6%	5%	3%	3%	6%	6%	4%	6%	6%	7%
Interest expense	82.3	77.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	351	503	474	482	256	228	512	538	370	545	591	726
Tax rate	21%	20%	23%	22%	23%	16%	23%	23%	24%	22%	25%	24%
Net income	276	402	363	374	197	191	392	411	283	426	444	550
Net margin	3%	4%	4%	4%	2%	2%	4%	4%	3%	4%	4%	5%
Diluted EPS	$1.26	$1.82	$1.65	$1.70	$0.89	$0.87	$1.78	$1.86	$1.28	$1.93	$2.00	$2.48
Operating cash flow	715	950	664	989	542	801	847	968	1,004	816	716	781
Capital expenditure	473	460	342	354	341	273	291	403	314	234	352	407
Free cash flow	243	490	322	635	201	528	556	565	690	582	365	374
Dividends paid	129	130	130	130	130	130	130	130	130	130	130	130
Shares outstanding	219m	220m	220m	220m	220m	220m	220m	220m	220m	220m	221m	221m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 3 November 2023, filed 7 December 2023, accession 0001558370-23-019576: the filing on EDGAR. All of Dollar General Corp.'s filings: EDGAR company page.

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