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Dick's Sporting Goods $DKS reported second-quarter earning before the market Tuesday premarket that missed estimates, and issued a profit warning. The stock has collapsed 18% in early trading. Dicks had been aggressive taking over competitor Sports Authority and the result does not demonstrate a lasting customer flow on at this point.

Earnings: Net income was $112.4 million, or $1.03 per share, up from $91.4 million, or 82 cents per share. Adjusted EPS was 96 cents, below the $1 FactSet consensus. Revenue was $2.16 billion, up from $1.97 billion matching the FactSet consensus.

Reaction Dicks Sporting Goods Inc NYSE: DKS Pre-market28.70 -6.21 (-17.79%) Dick's shares were already down 34.3% for the year before the release.

Same-store sales increased 0.1%. The FactSet estimate was up 1.4%.

eCommerce sales for 2Q17 increased about 19%. eCommerce penetration was 9.2% of total net sales during the quarter, compared to 8.5% in the year-over period.

Guidance

  • Dick's expects full-year 2017 EPS in the range of $2.85 to $3.05, and adjusted EPS in the range of $2.80 to $3.
  • Same-store sales are expected to be in the range of about flat to a low single-digit decline.
  • The FactSet consensus was for EPS of $3.62 and same-store sales growth of 1.3%.

Dick's expects third-quarter EPS in the range of 22 cents to 30 cents, and a same-store sales decline in the low-single digits. FactSet sees EPS of 56 cents and same-store sales growth of 0.5%. 

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