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Dick’s Sporting Goods Beats Q1 Revenue Estimates, Reaffirms Strong Full-Year Outlook
Sporting goods retailer posts $3.17B in revenue and $3.37 EPS, meeting Wall Street expectations.
Dick's Sporting Goods Inc. (NYSE : DKS) on Wednesday reported fiscal first-qua rter profit of $264.3 million. On a per-share basis, the Coraopolis, Pennsylvania-based company said it had net income of $3.24. Earnings, adjusted for investment costs, were $3.37 per share. The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of $3.37 per share.
The sporting goods retailer posted revenue of $3.17 billion in the period, surpassing Street forecasts. Ten analysts surveyed by Zacks expected $3.12 billion.
"We are very pleased with our first quarter results. Our performance demonstrates the momentum and strength of our long-term strategies and the consistency of our execution. Our Q1 comps increased 4.5% driven by growth in both average ticket and in transactions and this was our fifth straight quarter with comps over 4.0%,” said Lauren Hobart, President and Chief Executive Officer.
The company opened two new House of Sport locations and four new DICK'S Field House locations during the first quarter.
Additionally, Dick’s announced plans to acquire Foot Locker to create a global leader in the sports retail industry.
The sporting goods giant said it’s expecting earnings per share to be between $13.80 and $14.40 in fiscal 2025 — in line with the $14.29 that analysts had expected.
“We are reaffirming our 2025 outlook, which reflects our strong start to the year and confidence in our strategies and operational strength while still acknowledging the dynamic macroeconomic environment,” said Hobart.
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