Hibbett Sports earnings for the first quarter of 2019 have HIBB stock flying high on Friday.
Hibbett Sports (NASDAQ:HIBB) starts off its earnings report for the first quarter of the year with earnings per share of $1.61. This is up from the company’s earnings per share of $1.12 from the same time last year. It was also a boon to HIBB stock by blowing past Wall Street’s earnings per share estimate of $1.32 for the quarter.
The Hibbett Sports earnings report for the first quarter of 2019 also has the company bringing in net income of $27.42 million. This is an increase over the company’s net income of $21.51 million reported in the first quarter of 2018.
Operating income reported in the Hibbett Sports earnings report for the first quarter of the year comes in at $36.76 million. That’s an improvement over the sporting goods retail company’s operating income of $28.62 million reported in the same period of the year prior.
Hibbett Sports earnings for the first quarter of 2019 also have revenue coming in at $343.30 million. This is better than the company’s revenue of $274.71 million reported in the first quarter of the previous year. It also easily beats out analysts’ revenue estimate of $326.10 million for the period.
Hibbett Sports also announced a new independent Chairman for its Board of Directors today. The new Chairman of the Board is Anthony Crudele. He is taking over the position from retiring Chairman Michael Newsome. The change took place on Thursday.
HIBB stock was up 23% as of Friday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.