Dick's Sporting Goods (DKS) Tops Q4 EPS by 10c, Offers Guidance

Dick's Sporting Goods (NYSE: DKS) reported Q4 EPS of $1.32, $0.10 better than the analyst estimate of $1.22. Revenue for the quarter came in at $2.61 billion versus the consensus estimate of $2.57 billion.

• Delivers 5.3% Increase in Fourth Quarter Same Store Sales

GUIDANCE:

Dick's Sporting Goods sees FY2020 EPS of $3.60-$4.00, versus the consensus of $3.85.

• The Company's outlook balances the enthusiasm it has for its business with the rapidly evolving coronavirus situation. Accordingly, the low-end of the Company's outlook includes some caution related to supply chain disruption potentially impacting its results beginning in the second quarter.
• Based on an estimated 85.5 million diluted shares outstanding, the Company currently projects earnings per diluted share to be approximately $3.60 to 4.00. The Company's earnings per diluted share guidance only includes the expectation of share repurchases to fully offset dilution in 2020. The Company reported earnings per diluted share of $3.34 for the 52 weeks ended February 1, 2020. On a non-GAAP basis, the Company reported earnings per diluted share of $3.69 for the 52 weeks ended February 1, 2020.
• Consolidated same store sales are currently expected to be approximately flat to an increase of 2%, compared to a 3.7% increase in 2019.
• The Company expects to open nine new DICK'S Sporting Goods stores and six new Golf Galaxy stores in 2020. The Company also expects to relocate 14 DICK'S Sporting Goods stores and relocate three Golf Galaxy stores in 2020.
• In 2020, the Company anticipates capital expenditures to be in the range of $330 to 390 million on a gross basis and in the range of $235 to 295 million on a net basis. In 2019, capital expenditures were $217 million on a gross basis and $180 million on a net basis.

For earnings history and earnings-related data on Dick's Sporting Goods (DKS) click here.

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