Hibbett Sports, Inc. (NASDAQ:HIBB) 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.
Hibbett Sports, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 2.04% to $1.00 in the quarter versus EPS of $0.98 in the year-earlier quarter.
Revenue: Rose 3.04% to $240 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hibbett Sports, Inc. reported adjusted EPS income of $1.00 per share. By that measure, the company missed the mean analyst estimate of $1.07. It missed the average revenue estimate of $246.41 million.
Quoting Management: Jeff Rosenthal, President and Chief Executive Officer, stated, “The colder weather clearly affected the performance of some key spring assortments, especially against last year’s strong sales performance. Looking forward, we are well positioned for the summer and back-to-school sales periods given our improved aged inventory position, product assortments and excellent customer service. This, coupled with accelerated store growth, gives us confidence in maintaining our full-year guidance as well as increasing our new store opening goal.”
Key Stats (on next page)…