Dick’s tops Street 3Q forecasts
CORAOPOLIS, Pa. (AP) — Dick’s Sporting Goods Inc. (DKS) on Tuesday reported fiscal third-quarter net income of $48.9 million.
On a per-share basis, the Coraopolis, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The sporting goods retailer posted revenue of $1.81 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $1.77 billion.
For the current quarter ending in January, Dick’s expects its per-share earnings to range from $1.19 to $1.31. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.32.
The company expects full-year earnings in the range of $2.99 to $3.11 per share.
Dick’s shares have climbed 72 percent since the beginning of the year. The stock has increased 42 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DKS at https://www.zacks.com/ap/DKS
Keywords: Dick’s Sporting Goods, Earnings Report