Dick’s Sporting Goods scores Q4 earnings beat, but stock is down for the count after guidance strikes out
Shares of Dick’s Sporting Goods fell about 6% early Tuesday afternoon, on pace for their worst day since last July, even after the sports retailer scored a Q4 earnings beat. Revenue for the quarter came in at $3.89 billion, versus FactSet analysts’ estimates of $3.77 billion. Earnings per share also topped expectations, reaching $3.62.
But the outlook was more rocky: Dick’s is expecting full-year earnings per share to be between $13.80 and $14.40, short of Wall Street estimates of $14.82, according to FactSet. Meanwhile, net sales are expected to be between $13.6 billion and $13.9 billion, which is in line with the higher end of estimates of $13.88 billion. Shares of Dick’s Sporting Goods are still nearly 10% higher over the past year.
In the upcoming year, Dick’s plans to spend $1 billion on a net basis to build 16 of its 100,000-square-foot House of Sport locations. Dick’s also plans to capitalize on the rising popularity of women’s sports and the World Cup soccer matches in the US next year.
But the outlook was more rocky: Dick’s is expecting full-year earnings per share to be between $13.80 and $14.40, short of Wall Street estimates of $14.82, according to FactSet. Meanwhile, net sales are expected to be between $13.6 billion and $13.9 billion, which is in line with the higher end of estimates of $13.88 billion. Shares of Dick’s Sporting Goods are still nearly 10% higher over the past year.
In the upcoming year, Dick’s plans to spend $1 billion on a net basis to build 16 of its 100,000-square-foot House of Sport locations. Dick’s also plans to capitalize on the rising popularity of women’s sports and the World Cup soccer matches in the US next year.