Dicks Sporting Goods Inc Q3 Profit Decreases, But Beats Estimates

Dick's Sporting Goods

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(RTTNews) - Dicks Sporting Goods Inc (DKS) released a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $75.212 million, or $0.86 per share. This compares with $227.813 million, or $2.75 per share, last year.

Excluding items, Dicks Sporting Goods Inc reported adjusted earnings of $225.625 million or $2.78 per share for the period.

Analysts on average had expected the company to earn $2.71 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 36.3% to $4.167 billion from $3.057 billion last year.

Dicks Sporting Goods Inc earnings at a glance (GAAP) :

-Earnings: $75.212 Mln. vs. $227.813 Mln. last year. -EPS: $0.86 vs. $2.75 last year. -Revenue: $4.167 Bln vs. $3.057 Bln last year.

On November 24, the Board declared a quarterly dividend of $1.2125 per share. The dividend will be paid on December 26 to stockholders of record as of December 12.

Looking ahead, for the full year, Dick's Sporting Goods has revised up its earnings outlook in line with analysts' forecasts, but sales below Street view.

For the full year, the company now expects earnings of $14.25 to $14.55 per share, higher than its earlier outlook of $13.90 to $14.50 per share.

The company is now anticipates annual sales in the range of $13.95 billion to $14 billion against its prior outlook of $13.75 billion to $13.95 billion.

Analysts, on average, forecast Dick's Sporting Goods to register earnings of $14.48 per share, on revenue of $17.9 billion for the year.

DKS was down by 8.41% at $189 in the pre-market trade on the New York Stock Exchange.