Key Takeaways
- Dick’s Sporting Goods raised its full-year profit guidance but not enough to match analysts’ consensus estimates.
- Second-quarter sales and profit topped analysts’ expectations.
- Dick’s shares sank 7% Wednesday morning but still are up nearly 50% this year.
Dick’s Sporting Goods (DKS) raised its 2024 profit guidance Wednesday along with second-quarter results that beat expectations on the top and bottom lines.
The retailer increased its full-year earnings per share (EPS) outlook to between $13.55 and $13.90, up from a prior range of $13.35 to $13.75. The midpoint of that projection, however, is below the consensus estimate of analysts compiled by Visible Alpha.
Dick’s also left its net sales guidance unchanged at $13.1 billion to $13.2 billion, below analysts’ expectations of $13.25 billion.
Q2 Sales, Profit Top Estimates
In the second quarter, net sales rose 7.8% year-over-year to $3.47 billion, and EPS jumped 55% to $4.37, with both beating consensus estimates.
Shares of Dick’s dropped 7% to $215.70 Wednesday morning but still are up nearly 50% in 2024.