Cabela's (CAB) Tops Q1 EPS by 3c; Reaffirms

Cabela's (NYSE: CAB) reported Q1 EPS of $0.38, $0.03 better than the analyst estimate of $0.35. Revenue for the quarter came in at $827.1 million versus the consensus estimate of $803.68 million.

“We have started the year well and are pleased that the extreme volatility in firearms and ammunition over the past two years seems to have normalized,” said Tommy Millner, Cabela’s Chief Executive Officer. “We experienced strong growth in merchandise sales, sequential improvement in comparable store sales, and excellent performance from Cabela’s CLUB® and our new format stores. We were particularly pleased with the continued improvement in comparable store sales as hunting equipment, optics, camping, fishing, shooting, and powersports all comped positively in the quarter.”

“Our new format stores continue to significantly outperform our legacy stores in sales and profit per square foot,” Millner said. “As our business grows, we are excited as we accelerate the pace of our new store openings. During the first quarter, we opened two new stores and plan to open a total of five stores in the second quarter, four stores in the third quarter, and two stores in the fourth quarter.”

On the outlook, the company said:

“As the volatility in firearms and ammunition over the past two years subsides, we are confident in our outlook for full-year 2015,” Millner said. “As a result, we reaffirm our expectations for a low-double-digit growth rate in revenue and a high-single to low-double-digit growth rate in diluted earnings per share for full-year 2015 as compared to full-year 2014 non-GAAP diluted earnings per share of $2.88.”

For earnings history and earnings-related data on Cabela's (CAB) click here.

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