Dick's Sporting Goods (DKS) Tops Q3 EPS by 15c, Updates FY Guidance

Dick's Sporting Goods (NYSE: DKS) reported Q3 EPS of $0.52, $0.15 better than the analyst estimate of $0.37. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $1.91 billion.

• Consolidated same store sales for the third quarter increased 6.0%

GUIDANCE:

Dick's Sporting Goods sees FY2019 EPS of $3.63-$3.73, versus the consensus of $3.41.

• Based on an estimated 89 million average diluted shares outstanding, the Company currently projects earnings per diluted share to be approximately $3.63 to 3.73. The Company reported earnings per diluted share of $3.24 for the 52 weeks ended February 2, 2019.
• The Company's earnings per diluted share guidance includes approximately $30 million of net investments in business transformation initiatives.
• The Company's earnings per diluted share guidance includes the expected impact from all tariffs currently in effect, as well as any new tariffs slated to go into effect.
• The Company currently projects non-GAAP earnings per diluted share to be approximately $3.50 to 3.60. This excludes the gain on sale of subsidiaries, non-cash asset impairments, charges related to the exit of eight Field & Stream stores, and the favorable settlement of a litigation contingency.
• The Company is continuing the strategic review of its hunt business, including Field & Stream.
• Consolidated same store sales are currently expected to increase 2.5% to 3%, compared to a 3.1% decrease in 2018.
• In 2019, the Company anticipates capital expenditures to be approximately $230 million on a gross basis and approximately $200 million on a net basis. In 2018, capital expenditures were $198 million on a gross basis and $170 million on a net basis.

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

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