Dick’s Sporting Goods Earnings: Here’s Why Investors are Selling Shares Now
Dick’s Sporting Goods Inc. (NYSE:DKS) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 4.72%.
Dick’s Sporting Goods Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.23% to $0.71 in the quarter versus EPS of $0.65 in the year-earlier quarter.
Revenue: Rose 6.54% to $1.53 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dick’s Sporting Goods Inc. reported adjusted EPS income of $0.71 per share. By that measure, the company missed the mean analyst estimate of $0.74. It missed the average revenue estimate of $1.57 billion.
Quoting Management: “Our second quarter results were below our guidance as a sluggish consumer environment along with higher levels of precipitation and cooler temperatures contributed to a decrease in traffic, resulting in lower than expected same store sales,” said Edward W. Stack, Chairman and CEO. “Despite these challenges in the second quarter, we were able to generate record non-GAAP earnings per share.”
Key Stats (on next page)…