Dick’s Sporting Goods (NYSE:DKS) earnings for the fiscal fourth quarter of 2019 sent DKS stock up first thing on Tuesday morning, though it has given back those gains as the whole market slid backward. This is due to its adjusted earnings per share (EPS) of $1.32 beating Wall Street’s estimate of $1.22. The sporting goods retailer’s revenue of $2.61 billion also helps by coming in above analysts’ estimates of $2.57 billion.
Additionally, the company announced that is will remove its hunting section from 440 more stores in fiscal 2020 — a move that originally began after the 2018 school shooting in Parkland, Florida.
Here are some additional highlights from the most recent Dick’s Sporting Goods earnings report.
- Revenue for the quarter comes in 4.8% higher compared to $2.49 billion in fiscal Q4 2018.
- Per-share earnings are 23.4% better than $1.07 at this time last year.
- Operating income of $98.91 million is a 30.4% drop year-over-year from $142.01 million.
- The Dick’s Sporting Goods earnings report also includes a net income of $69.82 million.
- That’s a 31.9% decrease from the company’s net income of $102.56 million from the same period of the year prior.
Edward W. Stack, chairman and CEO of Dick’s Sporting Goods, said this about the DKS stock earnings:
“We are very pleased with our strong fourth quarter results. Despite the compressed holiday selling season and the challenging conditions we faced with unseasonably warm weather, we delivered a 5.3% comp sales increase, supported by 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 its outlook for fiscal 2020. This has it expecting diluted EPS ranging from $3.60 to $4, while Wall Street’s estimate is for diluted EPS of $3.60 for the year.
DKS stock surged early Tuesday, before dropping lower for much of the morning.
Nick Clarkson is a Web Editor at InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities.