Report published August 27, 2026
Dollar Tree Stores Inc. (DLTR): 2Q26 Earnings Beat & FY26 Guidance Analysis by Goldman Sachs
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 27, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Kate McShane, CFA, Grace Chee, Mark Jordan, CFA, Emily Ghosh, Nishi Agarwal, Samantha Chiang
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Dollar Tree reported 2Q26 adjusted EPS of $1.39 (ex-tariff refunds), topping GS and consensus estimates on +3.7% SSS growth, and raised FY26 adj EPS guidance to $7.10-$7.45. Goldman Sachs reiterates a Neutral rating with a $125 price target amid concerns over elevated SG&A and a soft 3Q outlook.
Key Takeaways
- 1.DLTR reported 2Q adj EPS of $1.39 (excluding tariff refunds), beating GS estimate ($1.10) and FactSet consensus ($1.15), with same-store sales growth of +3.7% driven by traffic (+0.4%) and ticket (+3.3%).
- 2.FY26 adjusted EPS guidance was raised to $7.10-$7.45 (from $6.70-$7.10 previously), while full-year net sales and same-store sales guidance remained unchanged at $20.5bn-$20.7bn and +3%-4% respectively.
- 3.Goldman Sachs maintains a Neutral rating on DLTR with a 12-month price target of $125.00, noting pre-market stock weakness likely triggered by higher SG&A, a light 3Q EPS guide, and an unchanged top-line outlook.
Table of Contents
- Guidance
- Analysis
- Implications
- Valuation & Risks
- Exhibit 1: DLTR actual results vs GS estimates
- Disclosure Appendix
- Reg AC
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Company-specific regulatory disclosures
- Distribution of ratings/investment banking relationships
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
- Additional disclosures required under the laws and regulations of jurisdictions other than the United States
- Ratings, coverage universe and related definitions
- Global product; distributing entities
- General disclosures
Report data
Exhibit 1: DLTR actual results vs GS estimates — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| 2Q26 Adjusted EPS (ex-tariff refunds) | 1.39 USD | Reported adjusted EPS above GS estimate of $1.10 and FactSet consensus of $1.15 |
| Same-Store Sales Growth | 3.7% | Driven by traffic (+0.4%) and ticket (+3.3%), beating GS/consensus of +3.0%/+3.2% |
| Net Sales | 4.89 USD Billion | Net sales increased +7.0% y/y from $4.57bn last year |
| Adjusted Gross Margin (ex-tariff refunds) | 36.1% | Increased y/y driven by lower tariff rates, favorable shrink, and occupancy leverage |
| FY26 Adjusted EPS Guidance (ex-tariff refunds) | 7.10-7.45 USD | Raised from $6.70-$7.10 previously (vs. GS/consensus of $7.01/$7.07) |
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Authors / Editors
Reported Data Context
- 2Q26 Adjusted EPS (ex-tariff refunds): 1.39 USD (2Q26) · Source: Company data, FactSet
- Same-Store Sales Growth: 3.7 % (2Q26) · Source: Company data
- Net Sales: 4.89 USD Billion (2Q26) · Source: Company data
- Adjusted Gross Margin (ex-tariff refunds): 36.1 % (2Q26) · Source: Company data
- FY26 Adjusted EPS Guidance (ex-tariff refunds): 7.10-7.45 USD (FY26) · Source: Company data
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