Dick’s Sporting Goods Inc. Earnings: Beats Analysts’ Estimates

Dick’s Sporting Goods Inc. (NYSE:DKS) reported net income above Wall Street’s expectations for the first quarter. Dick’s Sporting Goods is an authentic, full-line sporting goods retailer offering a assortment of brand name sporting goods equipment, apparel, and footwear in a specialty store environment.

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Dick’s Sporting Goods Earnings Cheat Sheet for the First Quarter

Results: Net income for Dick’s Sporting Goods Inc. rose to $57.2 million (45 cents per share) vs. $37.5 million (30 cents per share) in the same quarter a year earlier. This marks a rise of 52.4% from the year-earlier quarter.

Revenue: Rose 15.1% to $1.28 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Dick’s Sporting Goods Inc. reported adjusted net income of 52 cents per share. By that measure, the company beat the mean estimate of 38 cents per share. It beat the average revenue estimate of $1.23 billion.

Quoting Management: “We had an exceptionally strong first quarter as we generated record earnings with a 50% increase in earnings per share on 15% sales growth. We also maintained a healthy balance sheet while returning capital to stockholders through our dividend and share repurchase programs,” said Edward W. Stack, Chairman and CEO. “For 2012, we are raising our full year guidance as we continue to invest in new stores and our eCommerce business as well as our margin accelerators including inventory management, private brands, and product mix shift.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 27% and in the third quarter of the last fiscal year, the figure rose more than twofold.

Revenue has increased for four quarters in a row. Revenue increased 6.1% to $1.61 billion in the fourth quarter of the last fiscal year. The figure rose 9.3% in the third quarter of the last fiscal year from the year earlier and climbed 6.6% in the second quarter of the last fiscal year from the year-ago quarter.

The company beat estimates last quarter after being in line with expectations in the fourth quarter of the last fiscal year with net income of 88 cents per share.

Looking Forward: Expectations for the company’s next-quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the second quarter has risen to 63 cents per share from 61 cents. For the fiscal year, the average estimate has moved up from $2.38 a share to $2.43 over the last ninety days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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