Hibbett Sports (HIBB) Tops Q3 EPS by 16c, Updates Guidance
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Hibbett Sports (NASDAQ: HIBB) reported Q3 EPS of $0.32, $0.16 better than the analyst estimate of $0.16. Revenue for the quarter came in at $275.5 million versus the consensus estimate of $260.75 million.
GUIDANCE:
Hibbett Sports sees FY2020 EPS of $2.30-$2.50, versus the consensus of $2.21.
Fiscal 2020 Outlook
The Company updated its full-year guidance for Fiscal 2020:
| Updated | Previous | ||
| Comparable store sales | 4.0%-6.0% | 1.0% - 2.0% | |
| Net store closings | (80) - (85) | (80) - (85) | |
| Earnings per diluted share | $1.55 - $1.65 | $1.35 - $1.50 | |
| Expected impact of non-recurring items (non-GAAP) | ($0.75) - ($0.85) | ($0.75) - ($0.80) | |
| Earnings per diluted share excluding non-recurring items (non-GAAP) | $2.30 - $2.50 | $2.15 - $2.25 | |
| Gross margin | flat - 20bps | (30)bps - (40)bps | |
| Gross margin excluding non-recurring items (non-GAAP) | (10)bps - 10bps | (40)bps - (50)bps | |
| SG&A expense rate change | 60bps - 80bps | 50bps - 70bps | |
| SG&A expense rate change excluding non-recurring items (non-GAAP) | (60)bps - (80)bps | (40)bps - (60)bps | |
| Depreciation | (10)bps - (20)bps | (10)bps - (20)bps | |
| Tax rate | 25.5% | 25.5% | |
| Capital expenditures | $15M - $18M | $18M - $20M | |
| Share repurchase | $25M - $30M | $25M - $30M |
For earnings history and earnings-related data on Hibbett Sports (HIBB) click here.
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