Core Insights - VINCI Construction has completed the acquisition of Peters Bros Construction Ltd, a paving company in British Columbia, Canada, which reported an annual revenue of approximately CAD 90 million in 2024 [1][6]. Company Overview - Peters Bros Construction, founded in 1981, is based in the Okanagan Valley and employs around 140 people during peak season, primarily operating in the BC interior region [2][6]. - The acquisition will enhance VINCI Construction's presence in Western Canada, where it already has operations in Vancouver, Alberta, and Saskatchewan, facilitating greater synergies and operational capabilities [3][6]. Market Context - The population of British Columbia is projected to grow by 50% by 2046, indicating a rising demand for road infrastructure, which the acquisition aims to support [3].

Core Insights - Dollar General has experienced a significant stock price increase of approximately 30% over the past three months, rising from around $85.00 to about $97.00 [1] - The company is implementing a "Back to Basics" strategy aimed at addressing past operational challenges and focusing on growth [2][11] - Analysts are increasingly optimistic about Dollar General's turnaround, with several firms raising their price targets for the stock [6][8] Strategy and Operational Improvements - The "Back to Basics" strategy includes smarter inventory management, enhancing the shopping experience through store remodels, and controlling shrinkage to protect profitability [3][4] - Dollar General aims to increase operating margins to 6-7% by 2028 or 2029, up from 4.2% reported in Fiscal 2024 [5] - The company plans to expand its fresh food offerings and open 575 new stores in the U.S. and up to 15 in Mexico in Fiscal 2025 [7] Financial Outlook - The current price-to-earnings (P/E) ratio is around 16, with a forward P/E of about 17, indicating potential value for investors if the turnaround is successful [9] - UBS Group and other analysts have raised their price targets for Dollar General, reflecting growing confidence in the company's future performance [8] Upcoming Events - The first-quarter Fiscal 2026 earnings report, expected around June 3, 2025, will be crucial in validating the turnaround narrative and building investor confidence [10][16]

Core Viewpoint - Dollar General's stock has experienced significant volatility, with a 45% drop in 2023 and a further 44% decline in 2024, but has shown a recovery with a 31% increase year-to-date in 2025, making it one of the best performers in the S&P 500 [1] Financial Performance - Dollar General's earnings per share (EPS) have seen a sharp decline, with a 53% drop year-over-year in Q4 and a 32% decline for the full fiscal year [4][5] - The company reported diluted EPS of $5.11 for fiscal 2024, down from $10.68 in fiscal 2022, but management expects EPS to stabilize in fiscal 2025 with a forecast of $5.10 to $5.80, indicating potential growth of nearly 14% in a best-case scenario [13] Inventory Issues - A significant factor in the decline of profits has been the excessive inventory levels, which led to increased theft, damage to merchandise, and the need for discounts to clear stock [7][9] - Management has been addressing inventory issues, with theft decreasing and inventory levels approaching expected trends [10] Store Closures and One-Time Expenses - The sharp decline in Q4 profits was partly due to one-time expenses associated with closing underperforming stores, which would have otherwise resulted in relatively stable profits year-over-year [11] Economic Context - Despite high sales figures, the shift towards lower-margin food products due to economic pressures may limit profit potential [14] - Operational improvements are expected to enhance profits in the coming years, with additional growth anticipated once the economy improves [15] Valuation and Investment Potential - Dollar General's stock is currently trading at its lowest price-to-sales (P/S) valuation ever, suggesting it is undervalued relative to its profit potential [15] - If management can maintain control over past issues, the stock presents a buying opportunity as it is positioned for steady improvements [17]

Core Insights - Dollar General (DG) is expected to report quarterly earnings of $1.47 per share, reflecting a decline of 10.9% year-over-year, while revenues are forecasted to reach $10.28 billion, an increase of 3.7% year-over-year [1] Earnings Estimates - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock performance [2] Key Metrics Projections - Analysts project 'Net Sales by Category- Consumables' to reach $8.61 billion, indicating a year-over-year increase of 4.9% [4] - 'Net Sales by Category- Seasonal' is expected to be $983.31 million, reflecting a 2.1% year-over-year change [4] - 'Net Sales by Category- Home products' is estimated at $489.95 million, suggesting a 2.3% year-over-year increase [4] - 'Net Sales by Category- Apparel' is forecasted to be $265.02 million, indicating a 1.6% increase from the previous year [5] Store Metrics - The consensus for 'Ending store count' is 20,670, up from 20,149 in the same quarter last year [5] - 'Total selling square footage' is projected at 157.55 million square feet, compared to 152.61 million square feet a year ago [5] - 'Store closings' are estimated to reach 82, up from 34 in the previous year [6] - Analysts expect 'New store openings' to be 157, down from 197 in the same quarter last year [6] - 'Net sales per square foot' is estimated at $65.17, compared to $64.96 a year ago [6] Stock Performance - Over the past month, Dollar General shares have returned +4.4%, while the Zacks S&P 500 composite has changed by +6.7%, indicating that DG is likely to perform in line with the overall market [7]

As I mentioned in more detail in a previous write-up , I like to classify my investments into different buckets. Regarding Dollar General (NYSE: DG ), I put them in my medium-term bucket but believe they could end upI am a CFA Charterholder, have my M.B.A. from a Top 20 Business school, and am a Marine Corps Veteran. My investment approach is opportunistic, flexible, fundamentally based, and valuation driven. I will invest in individual stocks, options, warrants, bonds, ETF's, CEF's, or mutual funds based o ...

Core Viewpoint - Dollar General has seen a significant stock price increase of 33% this year, outperforming the S&P 500 index, which gained only 0.5% [1] Financial Performance - The company will report its latest earnings on June 3, which is expected to cause rapid stock movement [2] - Despite the current stock performance, Dollar General's stock is down over 44% from its mid-2020 price, indicating a volatile five-year performance [4] - For the current fiscal year, Dollar General projects net sales growth between 3.4% and 4.4%, but same-store sales growth is only expected to be between 1.2% and 2.2% [10] Business Model and Market Position - Dollar General focuses on domestically produced essential goods, with only about 4% of its inventory sourced from imports, making it less vulnerable to tariff-related price increases [6] - The company plans to open 575 new stores in the U.S. during the current fiscal year, which is a significant factor behind its projected top-line growth [10] Investment Considerations - The stock is currently trading around $101, significantly lower than its early 2023 price of just below $240, suggesting potential for further rally if recent performance is solid [7] - Despite the stock's recent success, there are concerns about the company's financial health, as many customers report only having enough money for basic essentials, indicating limited organic growth [10] - The stock's valuation is approaching its five-year average, leading to caution regarding future performance and potential risks associated with the core customer base in rural areas [11][12]

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Dollar General despite higher revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - Dollar General is expected to report quarterly earnings of $1.47 per share, reflecting a year-over-year decrease of 10.9% [3]. - Revenue projections stand at $10.28 billion, indicating a 3.7% increase from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 0.03% over the last 30 days, indicating a slight reassessment by analysts [4]. - A positive Earnings ESP of +3.15% suggests analysts have recently become more optimistic about Dollar General's earnings prospects [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [8]. - Dollar General currently holds a Zacks Rank of 3, which, along with the positive Earnings ESP, suggests a likelihood of beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Dollar General exceeded expectations by delivering earnings of $1.68 per share against an expected $1.50, resulting in a surprise of +12% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates two times [13]. Industry Comparison - Burlington Stores, a competitor in the discount retail sector, is expected to report earnings of $1.42 per share, unchanged from the previous year, with revenues projected at $2.53 billion, up 7.3% [17]. - Burlington Stores has seen a 1.2% upward revision in its EPS estimate over the last 30 days, resulting in an Earnings ESP of +3.45%, indicating a likely earnings beat [18].

Nanterre, May 26th, 2025 Disclosure of transactions in on shares from May 19th to May 23rd, 2025 Within the framework of the authorization granted by the General Meeting of VINCI SA of April 17th 2025, to trade in its shares and in accordance with the regulations relating to share buybacks, VINCI SA (LEI:213800WFQ334R8UXUG83) declares the purchases of treasury shares below (FR0000125486), carried out from May 19th to May 23rd, 2025: I - Aggregate presentation by day and by market Issuer’s nameDate of tra ...

Core Viewpoint - VINCI is initiating a capital increase reserved for employees of its foreign subsidiaries as part of its international Group savings plan, with the process set to take place from May 26, 2025, to June 13, 2025 [1][4]. Group 1: Capital Increase Details - The Board of Directors has authorized a capital increase for employees in various countries including Germany, Australia, Brazil, and the United States, among others [2]. - The Chief Executive Officer confirmed the decisions regarding the capital increase and has the authority to set subscription dates and prices [3]. - The issue price for the new shares is set at €125.33, based on the volume-weighted average price over the preceding 20 trading sessions [5]. Group 2: Subscription and Shareholder Rights - The maximum number of new shares issued will not exceed 1.5% of the authorized share capital at the time of the Board's decision [6]. - Employees will subscribe to the new shares through the "Castor International Relais 2025" FCPE, with some exceptions for direct subscriptions in specific countries [7]. - Subscribed shares will be subject to a three-year lock-up period, with dividend rights commencing from January 1, 2025 [8][10].

Core Viewpoint - BofA Securities analyst Robert F. Ohmes maintains a Buy rating on Dollar General Corp, increasing the price target from $100 to $115, anticipating positive financial results for the fiscal 2025 first quarter [1]. Financial Performance - Dollar General is expected to report an adjusted EPS of $1.40 for Q1, with comparable sales projected to rise by 1% [1]. - Real-time sales data indicates an acceleration in sales for the quarter, suggesting potential upside compared to current estimates [2]. Operational Insights - Profit gains from reduced shrink are expected to be offset by pressures from store remodel activities and labor costs, with approximately $20 million in expenses related to store closures [3]. - Margin performance is anticipated to improve progressively throughout the year [3]. Strategic Initiatives - The company is expected to benefit from trade-in programs that will support comparable sales and mitigate spending fluctuations among core customers, with adoption gaining traction [4]. - Despite concerns over Walmart's stronger comp performance, Dollar General's significant price gaps, digital expansion momentum, and ongoing store closures at competitors are seen as supportive factors [5]. Market Activity - Dollar General shares are currently trading higher by 1.25% at $101.90 [6].