<p>Dick’s Sporting Goods results (NYSE: DKS) for the fourth quarter of 2019 sent DKS stocks only on Tuesday morning, although it has returned these gains when the entire market slipped backwards. This is because the adjusted earnings per share (EPS) of $ 1.32 beat the Wall Street estimate of $ 1.22. Sporting Goods Dealer revenues of 2.61 billion dollars also help by coming over analysts’ estimates of 2.57 billion dollars.
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In addition, the company announced that it will remove its hunting section from another 440 stores during the 2020 budget year – a move that originally began after the 2018 school shooting in Parkland, Florida.
Here are some additional highlights from the latest Dick’s earnings report on sporting goods.
Revenue for the quarter increased 4.8% higher compared to $ 2.49 billion in the fourth quarter of 2018. Earnings per share are 23.4% better than $ 1.07 at this time last year. Operating profit of MUSD 98.91 is a decrease of 30.4% compared to the same period last year from MUSD 142.01. Dick’s earnings report for sporting goods also includes a net profit of $ 69.82 million. This is a decrease of 31.9% from the company’s net profit of $ 102.56 million from the same period the year before.
Edward W. Stack, Chairman and CEO of Dicks Sporting Goods, said this about DKS ‘share income:
“We are very pleased with our strong results for the fourth quarter. Despite the compressed holiday sales season and the challenging conditions we faced with unbearably hot weather, we delivered a sales increase of 5.3%, supported by increases in both average ticket and transactions, as well as growth across each of our three primary categories of hardlines , Clothes and shoes. ”
Dick’s earnings report for sporting goods also includes the outlook for the fiscal year 2020. This expects diluted earnings per share from $ 3.60 to $ 4, while Wall Street estimates to dilute the EPS to $ 3.60 for the year.
The DKS stock increased early on Tuesday, before falling lower for much of the morning.
Nick Clarkson is the Web Editor at InvestorPlace.com. At the time of writing, he had no position in any of the above-mentioned securities.