Sporting goods retailer Academy Sports & Outdoor (NASDAQ:ASO) will be reporting earnings tomorrow before market open. Here’s what you need to know.
Academy Sports missed analysts’ revenue expectations by 1.8% last quarter, reporting revenues of $1.55 billion, down 2.2% year on year. It was a slower quarter for the company, with full-year EPS and revenue guidance missing analysts’ expectations.
Is Academy Sports a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Academy Sports’s revenue to be flat year on year at $1.38 billion, improving from the 6.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.28 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Academy Sports’s peers in the specialty retail segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Dick's posted flat year-on-year revenue, beating analysts’ expectations by 0.9%, and Ulta reported revenues up 1.7%, topping estimates by 1.3%. Dick’s stock price was unchanged after the results, while Ulta was up 8.9%.
Read our full analysis of Dick’s results here and Ulta’s results here.
There has been positive sentiment among investors in the specialty retail segment, with share prices up 5.7% on average over the last month. Academy Sports is up 1.1% during the same time and is heading into earnings with an average analyst price target of $62.17 (compared to the current share price of $51.29).
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