Dicks Sporting Goods Inc (NYSE:DKS) stock was having a rough day Tuesday following the release of its earnings report for the fourth quarter of 2017.
The bad news for Dicks Sporting Goods Inc starts with revenue of $2.66 billion for the fourth quarter of the year. This is an increase over its revenue of $2.48 billion from the fourth quarter of 2016. However, it comes in below Wall Street’s revenue estimate of $2.73 billion for the period and was bad news for DKS stock.
Dicks Sporting Goods Inc also notes that its comparable sales for the fourth quarter of the year weren’t helping out DKS stock today. The company’s comparable sales for the quarter were down 2% from the same time last year.
Dicks Sporting Goods Inc also reported earnings per share of $1.22 for the fourth quarter of 2017. This is a down from its earnings per share of $1.32 from the fourth quarter of the previous year. Despite the decrease, it still did beat out analysts’ earnings per share estimate of $1.20 for the period.
During the fourth quarter of the year, Dicks Sporting Goods Inc reported net income of $115.95 million. This is up from its net income of $90.19 million that was reported in the same period of the year prior.
Operating income reported by Dicks Sporting Goods Inc for the fourth quarter of 2017 was $178.32 million. The sporting goods retailer reported operating income of $138.21 million for the fourth quarter of the prior year.
Dicks Sporting Goods Inc also says that it is expecting earnings per share for the full year of 2018 to range from $2.80 to $3.00. Wall Street is estimating earnings per share of $2.77 for the year.
DKS stock was down 4% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
