Name: Dollar General Corp. (NYSE:DG) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Dollar General Corp., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Aug 2, 2024	May 3, 2024	Feb 2, 2024	Nov 3, 2023	Aug 4, 2023	May 5, 2023	Feb 3, 2023	Oct 28, 2022	Jul 29, 2022	Apr 29, 2022	Jan 28, 2022	Oct 29, 2021	Jul 30, 2021	Apr 30, 2021	Jan 29, 2021	Oct 30, 2020	Jul 31, 2020	May 1, 2020	Jan 31, 2020	Nov 1, 2019	Aug 2, 2019	May 3, 2019	Feb 1, 2019	Nov 2, 2018	Aug 3, 2018	May 4, 2018
Net sales	10,210,361)	9,914,021)	9,858,514)	9,694,082)	9,796,181)	9,342,832)	10,202,907)	9,464,891)	9,425,713)	8,751,352)	8,651,448)	8,517,839)	8,650,198)	8,400,964)	8,414,524)	8,199,625)	8,684,241)	8,448,449)	7,157,642)	6,991,393)	6,981,753)	6,623,185)	6,649,809)	6,417,462)	6,443,309)	6,114,463)
Cost of goods sold	(7,150,882)	(6,921,872)	(6,952,178)	(6,881,554)	(6,751,495)	(6,387,358)	(7,054,590)	(6,579,696)	(6,377,490)	(6,012,989)	(5,951,208)	(5,898,400)	(5,912,539)	(5,645,296)	(5,677,829)	(5,631,385)	(5,866,006)	(5,852,757)	(4,884,879)	(4,926,307)	(4,832,817)	(4,620,909)	(4,578,120)	(4,522,403)	(4,468,436)	(4,252,214)
Gross profit	3,059,479)	2,992,149)	2,906,336)	2,812,528)	3,044,686)	2,955,474)	3,148,317)	2,885,195)	3,048,223)	2,738,363)	2,700,240)	2,619,439)	2,737,659)	2,755,668)	2,736,695)	2,568,240)	2,818,235)	2,595,692)	2,272,763)	2,065,086)	2,148,936)	2,002,276)	2,071,689)	1,895,059)	1,974,873)	1,862,249)
Selling, general and administrative expenses	(2,509,517)	(2,446,045)	(2,326,682)	(2,379,054)	(2,352,372)	(2,214,616)	(2,215,143)	(2,149,650)	(2,134,797)	(1,992,206)	(1,903,571)	(1,953,851)	(1,888,091)	(1,846,818)	(1,864,471)	(1,795,110)	(1,775,608)	(1,728,908)	(1,551,888)	(1,573,669)	(1,571,161)	(1,490,039)	(1,433,186)	(1,452,916)	(1,429,397)	(1,372,065)
Operating profit	549,962)	546,104)	579,654)	433,474)	692,314)	740,858)	933,174)	735,545)	913,426)	746,157)	796,669)	665,588)	849,568)	908,850)	872,224)	773,130)	1,042,627)	866,784)	720,875)	491,417)	577,775)	512,237)	638,503)	442,143)	545,476)	490,184)
Interest expense, net	(68,130)	(72,433)	(77,117)	(82,289)	(84,337)	(83,038)	(74,818)	(53,681)	(43,098)	(39,676)	(38,506)	(39,198)	(39,430)	(40,392)	(40,268)	(40,298)	(39,326)	(30,493)	(25,567)	(24,264)	(24,810)	(25,933)	(25,061)	(24,586)	(25,451)	(24,773)
Other expense	—)	—)	—)	—)	—)	—)	—)	(415)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,019)	—)
Income before income taxes	481,832)	473,671)	502,537)	351,185)	607,977)	657,820)	858,356)	681,449)	870,328)	706,481)	758,163)	626,390)	810,138)	868,458)	831,956)	732,832)	1,003,301)	836,291)	695,308)	467,153)	552,965)	486,304)	613,442)	417,557)	519,006)	465,411)
Income tax expense	(107,642)	(110,354)	(100,724)	(74,939)	(139,142)	(143,440)	(199,221)	(155,282)	(192,298)	(153,824)	(160,730)	(139,359)	(173,119)	(190,709)	(189,213)	(158,572)	(215,700)	(185,845)	(159,871)	(101,603)	(126,410)	(101,291)	(130,201)	(83,415)	(111,769)	(100,559)
Net income	374,190)	363,317)	401,813)	276,246)	468,835)	514,380)	659,135)	526,167)	678,030)	552,657)	597,433)	487,031)	637,019)	677,749)	642,743)	574,260)	787,601)	650,446)	535,437)	365,550)	426,555)	385,013)	483,241)	334,142)	407,237)	364,852)

Revenue analysis indicates a consistent long-term upward trajectory, with net sales increasing from $6.11 billion in May 2018 to $10.21 billion by August 2024. A significant acceleration in growth was observed during the second quarter of 2020, coinciding with a sharp increase in sales that established a new baseline for quarterly revenue.

Gross Profitability: Gross profit has scaled in tandem with net sales, growing from $1.86 billion in May 2018 to $3.06 billion in August 2024. The stability of this relationship suggests that the cost of goods sold has remained proportional to sales growth, maintaining a relatively consistent gross margin throughout the period.
Operating Expense Trends: Selling, general, and administrative (SG&A) expenses have exhibited a steady and aggressive increase, rising from $1.37 billion in May 2018 to $2.51 billion in August 2024. This growth in operational overhead has outpaced the growth of gross profit in recent periods, leading to a contraction in operating margins. Operating profit peaked at $1.04 billion in July 2020 but faced a downward trend that reached a trough of $433.5 million in November 2023, before recovering to approximately $550 million in 2024.
Debt and Financing Costs: Net interest expenses have increased significantly over the analyzed timeframe. Expenses rose from $24.8 million in May 2018 to a peak of $84.3 million in August 2023. Although a slight decline to $68.1 million was recorded by August 2024, the overall increase in financing costs has reduced the conversion of operating profit to net income.
Net Income Performance: Net income demonstrated substantial volatility, peaking at $787.6 million in July 2020. Following this peak, profitability declined steadily, hitting a minimum of $276.2 million in November 2023. The most recent data shows a recovery trend, with net income rising to $374.2 million in August 2024, though it remains well below the peaks observed during the 2020-2021 period.

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Dollar General Corp. (NYSE:DG)

Income StatementQuarterly Data

Income Statement
Quarterly Data