Dollar General Corporation · DG · FY2027 Q2 · Calendar Q3 2026

Dollar General Raises FY2026 Outlook After Strong Q2

The Q2 evidence supports a constructive near-term operating trajectory: sales and EPS accelerated, gross margin expanded, and management raised its FY2026 outlook. The durability of that trajectory still depends on how much of the margin benefit persists after tariff refunds and whether value and delivery initiatives continue to drive traffic without heavier promotions.

Reported Before market openNYSEConsumer Defensive $27.00B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $2.48 Consensus $2.01
EPS surprise +23.4% Reported versus consensus
Reported revenue $11.29B Consensus $11.20B
Revenue surprise +0.8% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +2.5% Event window
SPY move +0.7% Same window
Abnormal move +1.9% Stock minus SPY
Volume 3.3× Versus trailing sessions
Subsequent drift -2.8% Up to 20 sessions
DGSPY benchmark

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Transcript intelligence

What changed

Compared with the prior quarter, Dollar General reported stronger sales and EPS growth, expanded gross margin, raised its full-year outlook, and resumed share repurchases. Management also highlighted delivery incrementality, new-store progress and continued rollout of remodels and the DGTP ’26 format.

Guidance delta

Management raised FY2026 outlook to sales growth of 4–4.3%, same-store sales growth of 2.5–2.9%, and EPS of $7.80–$8.

Key takeaways

  • Q2 sales increased 5.2% and EPS rose 33% to $2.48.
  • Gross margin expanded 127 basis points, helped by tariff refunds, lower shrink and supply-chain gains.
  • Value Valley, delivery, remodels and the DGTP ’26 format remain central growth initiatives.
  • Management resumed share repurchases of up to $700 million in H2.

Management priorities

  • Expand the $1 Value Valley assortment and off-shelf displays.
  • Accelerate delivery growth and improve repeat rates.
  • Grow DG Media Network advertising and digital engagement.
  • Complete Project Renovate and Project Elevate remodels.
  • Continue the DGTP ’26 rollout and expansion in Mexico.

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Earnings History

Estimate Beat Miss Match
DG REVENUE earnings history estimate and actual scatter chart 10 reported fiscal quarters and 2 future estimate-only quarters. Q3 '24 estimate $10B Q3 '24 actual $10B, miss Q4 '24 estimate $10B Q4 '24 actual $10B, beat Q1 '25 estimate $10B Q1 '25 actual $10B, beat Q2 '25 estimate $10B Q2 '25 actual $10B, miss Q1 '26 estimate $10B Q1 '26 actual $10B, beat Q2 '26 estimate $11B Q2 '26 actual $11B, beat Q3 '26 estimate $11B Q3 '26 actual $11B, beat Q4 '26 estimate $11B Q4 '26 actual $11B, beat Q1 '27 estimate $11B Q1 '27 actual $11B, miss Q2 '27 estimate $11B Q2 '27 actual $11B, beat Q3 '27 estimate $11B Q4 '27 estimate $11B
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Analyst Consensus ?

ConsensusHold50 ratings
Bullish2652.0%
Neutral2142.0%
Bearish36.0%

1 unmapped firm rating excluded from the percentages.

Analyst 52W Price Targets

$122.41Previous close
$80Low
$149.67Average
$273High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 21, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Barclays Overweight OverweightMaintainSep 8, 2026
Argus Research Buy BuyMaintainSep 4, 2026
Guggenheim Buy BuyMaintainAug 31, 2026
Telsey Advisory Group Market Perform Market PerformMaintainAug 28, 2026
Piper Sandler Neutral NeutralMaintainAug 28, 2026
Show 46 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $122.41. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BMO CapitalAnalyst unavailable$135$123.4 +10.3%Aug 28, 2026
Morgan StanleyAnalyst unavailable$145$125.91 +18.5%Aug 28, 2026
Piper SandlerAnalyst unavailable$123$125.91 +0.5%Aug 28, 2026
Goldman SachsKate McShane$141$125.91 +15.2%Aug 28, 2026
Raymond JamesBobby Griffin$150$125.91 +22.5%Aug 28, 2026
See 122 more

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Company context

Snapshot as of publication

Dollar General Corporation is a prominent discount retail chain that offers a wide array of merchandise across the southern, southwestern, Midwestern, and eastern regions of the United States. Its extensive product assortment primarily features consumable items. This includes household essentials such as paper products, cleaning supplies, and laundry detergents; a wide array of food options, ranging from shelf-stable groceries like cereals, pasta, canned goods, condiments, and baking ingredients, to fresh and refrigerated perishables such as milk, eggs, bread, and frozen foods, as well as alcoholic beverages like beer and wine. The selection further encompasses popular snacks (candies, cookies, crackers, and carbonated drinks), health and beauty aids (over-the-counter medications, personal care items, cosmetics, dental, and foot care products), pet food and supplies, and tobacco products.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-08-27T18:15:38.419675+00:00
  2. FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
  3. Polygon adjusted daily market bars · 2026-09-21T04:40:49.015199+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T04:40:49.011977+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.