DICK’S Sporting Goods (NYSE:DKS) earnings for the retail company’s third quarter of 2019 have DKS stock taking off on Tuesday. This is thanks to its Non-GAAP earnings per share of 52 cents. That blows past Wall Street’s estimate of 38 cents for the quarter. Revenue of $1.96 billion is also well above analysts’ estimates of $1.91 billion.
Let’s see what else went on in the Q3 DICK’S Sporting Goods earnings report.
- Non-GAAP EPS is up 33.33% from 39 cents in the third quarter of 2018.
- Revenue increased by 5.38% from $1.86 billion in the same period of the year prior.
- Operating income of $45.63 million is a 16.39% drop YoY compared to $52.87 million.
- The DICK’S Sporting Goods earnings report also includes a net income of $57.58 million.
- That’s a 52.21% improvement over the company’s net income of $37.83 million in Q3 2018.
Edward Stack, Chairman and CEO of DICK’S Sporting Goods, says this about the DKS stock earnings.
“We are very pleased with our strong third quarter results, as we delivered a 6.0% comp sales increase and meaningful gross margin expansion. We saw increases in both average ticket and transactions, as well as growth across each of our three primary categories of hardlines, apparel and footwear.”
The DICK’S Sporting Goods earnings report also includes an update to its 2019 outlook. This includes an adjusted per-share earnings estimate ranging from $3.50 to 3.60. That’s great news for DKS stock with Wall Street expecting $3.41 for the year.
DKS stock was up 16.74% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.