Dick's Sporting Goods shares rise after earnings beat, guidance raised
Dick's Sporting Goods Inc. shares rose 5.7% in Tuesday premarket trading after the retailer beat second-quarter earnings estimates and raised its full-year outlook. Dick's reported net income of $91.4 million, or 82 cents per share, up from $90.8 million, or 77 cents per share, for the same period last year. The FactSet consensus was 69 cents per share. Revenue totaled $1.97 billion, up from $1.82 billion last year and beating the FactSet consensus of $1.88 billion. Same-store sales increased 2.8%, exceeding the FactSet estimate of a 2.2% decline. Dick's expects third-quarter EPS in the range of 39 cents and 42 cents, excluding costs to convert former The Sports Authority stores into Dick's stores. The FactSet consensus is 38 cents. The company raised its full-year EPS guidance to a range of $2.90 to $3.05 from $2.60 to $2.90. The FactSet consensus is $2.84. Dick's Sporting Goods shares are up 55.3% for the year so far while the S&P 500 Index is up 7.2% for the same period.
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