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Dick’s Sporting Goods raises annual outlook on the back of solid Q2; shares up

Published 09/04/2024, 07:29 AM
Updated 09/04/2024, 07:31 AM
© Reuters.  Dick’s Sporting Goods raises annual outlook on the back of solid Q2; shares up
DKS
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Dick's Sporting Goods (NYSE:DKS) shares rose higher after the company reported better-than-expected earnings and revenue for the fiscal Q2 and raised its forecast for the full fiscal 2025.

In Q2, the retailer posted earnings per share (EPS) of $4.37, beating the consensus estimate of $3.83. Revenue reached $3.47 billion during the period, also slightly above the consensus expectation of $3.44 billion.

Dick’s Sporting Goods reported second-quarter gross margin of 36.7%, ahead of the expected 35.8%.

Comparable sales grew by 4.5%, also above the 3.48% estimated by analysts.

DKS stock climbed more than 1% in premarket trading Wednesday.

Looking ahead, DKS now anticipates full-year EPS in the range of $13.55 to $13.90, up from its previous forecast of $13.35 to $13.75, with the consensus estimate at $13.83.

The company expects FY2025 revenue to be between $13.1 billion and $13.2 billion, compared to the consensus of $13.23 billion.

For comparable sales, the company projects growth of 2.5% to 3.5%, up from the prior range of 2% to 3%, and ahead of the estimate of 2.92%.

"We delivered a very strong second quarter,” said Lauren Hobart, President and Chief Executive Officer.

“Powered by our compelling omni-channel athlete experience, differentiated product assortment, best-in-class teammate experience and our ability to create deep engagement with the DICK'S brand, we are driving sustained top-line momentum and gaining market share.”

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