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Hibbett Sports, Inc. Shares Sink on Q1 Earnings Miss

HIBB missed Q! EPS estimates by 3 cents

Hibbett Sports, Inc. (NASDAQ:HIBB) stock was falling hard on Friday following the release of its earnings report for its fiscal first quarter of 2019.

Hibbett Sports, Inc. Shares Sink on Q1 Earnings Miss
Source: Shutterstock

During the fiscal first quarter of the year, Hibbett Sports, Inc. reported earnings per share of $1.12. This is up from its earnings per share of 97 cents reported in the first quarter of 2018. However, it wasn’t enough of an increase to save HIBB stock today, as Wall Street was looking for earnings per share of $1.15 for the quarter.

Hibbett Sports, Inc.’s earnings report for its fiscal first quarter of 2019 also includes net income of $21.51 million. This is better than the sporting goods retailer’s net income of $20.91 million from the same time last year.

Operating income reported by Hibbett Sports, Inc. for its fiscal first quarter of 2019 was sitting at $28.62 million. The company’s operating income from its fiscal first quarter of the previous year came in at $34.17 million.

Hibbett Sports, Inc. also reported revenue of $274.71 million for its fiscal first quarter of the year. This is a drop from FL’s revenue of $275.69 million that was reported in the same period of the year prior. It also wasn’t good news for HIBB stock with analysts estimating revenue of $277.35 million for the period.

Hibbett Sports, Inc. took time during its most recent earnings report to reaffirm its outlook for its fiscal full year of 2019. The company says that it is expecting earnings per share for the year to range from $1.65 to $1.95. Wall Street is estimating earnings per share of $1.86 for the year.

HIBB stock was down 13% as of Friday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/hibbett-sports-inc-stock-down-on-earnings-miss/.

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