Academy Sports第四季度:EPS優於預期,銷售同比下降3%,預計第一季度艱難,但押注2025年後期反轉

財報速遞
03-21
週四,Academy Sports and Outdoors, Inc.(納斯達克:ASO)報告第四季度調整後每股收益爲1.96美元,超出市場預期的1.83美元。季度銷售額爲16.76億美元,同比下降6.6%,微差低於分析師預期的16.77億美元。季度可比銷售下降3%,而去年同期下降了3.6%。公司在第四季度開設了五家新店,2024年總計開設16家新店。到2025年,公司計劃開設20至25家新店。報告季度調整淨收入爲1.388億美元,同比下降17.5%。 毛利率從去年同期的33.3%收縮至本季度的32.2%。季度調整後EBITDA總計爲2.1166億美元,低於去年的2.5515億美元。公司以現金及等價物28,893萬美元結束本季度。截止本季度末,商品庫存爲13.08億美元。長期債務(淨)爲4.8268億美元,而截至2024年2月3日爲4.8455億美元。 公司於3月6日宣佈季度現金股息爲每股普通股13美分,比上一季度增長了18%。股息將於4月17日支付。 展望未來:公司預計2025財政年度淨收入在60.90億至62.65億美元之間,比預期的62.4億美元略低。公司預計調整後每股收益在5.75至6.20美元之間,而市場預期爲6.45美元。公司執行副總裁兼首席財務官Carl Ford表示:“自第二季度以來,我們在可比銷售上看到連續改善,預計這種趨勢將持續到2025年。”此外,公司預期第一季度料將是銷售和每股收益角度最具挑戰性的,因爲公司計劃開設五家新店並過渡到新Jordan銷售樓層。公司進一步期望內部舉措自第二季度開始將正面影響業績。

以上內容來自Benzinga Earnings專欄,原文如下:

On Thursday, Academy Sports and Outdoors, Inc. (NASDAQ:ASO) reported fourth-quarter adjusted earnings per share of $1.96, beating the street view of $1.83. Quarterly sales of $1.676 billion (down 6.6% year over year) missed the analyst consensus estimate of $1.677 billion by a hairline.

Comparable sales declined 3% in the quarter under review, compared with a 3.6% dip in the year-ago period.

Academy opened five new stores during the fourth quarter for a total of 16 new stores in 2024. In 2025, the company plans on opening 20 – 25 new stores.

Adjusted net income in the quarter under review totaled $138.8 million, down 17.5% year over year.

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The gross margin in the quarter under review contracted to 32.2% from 33.3% in the year-ago period. Quarterly adjusted EBITDA totaled $211.66 million, down from $255.15 million a year ago.

The company exited the quarter with cash and equivalents worth $288.93 million. Merchandise inventories at the end of the quarter were $1.308 billion.

Long-term debt (net) as of quarter end was $482.68 million, compared with $484.55 million at the end of February 3, 2024.

On March 6, Academy Sports declared a quarterly cash dividend of 13 cents per share of common stock, marking an 18% increase from the previous quarter. The dividend will be payable on April 17.

Outlook: Academy Sports projects FY25 net revenues between $6.090 billion and $6.265 billion, compared with $6.240 billion estimate. The company expects adjusted EPS in the range of $5.75 to $6.20, compared to the $6.45 estimate.

“We have seen sequential improvements in comp sales since the second quarter and we anticipate that will continue into 2025,” said Carl Ford, Executive Vice President and Chief Financial Officer. 

Also, the company expects the first quarter to be the most challenging from a sales and earnings per share perspective as it plans to open five stores and transition to the new Jordan floor set. The company further expects its internal initiatives to start positively impacting results beginning in the second quarter.

Price Action: ASO shares are trading higher by 0.32% to $47.72 at last check Thursday.

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Photo via Shutterstock.

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