07.03.2023 13:22:37

DICK'S Sporting Goods Issues 2023 Guidance; More Than Doubles Dividend

(RTTNews) - DICK'S Sporting Goods (DKS) announced, for full year 2023, the company estimates earnings per share in a range of $12.90 to 13.80. This includes approximately $0.20 per share for the 53rd week. Comparable store sales are projected to be flat to positive 2.0% on a 52-week basis.

Fourth quarter non-GAAP earnings per share was $2.93 compared to $3.64, prior year. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $2.88, for the quarter. Analysts' estimates typically exclude special items.

Net income was $236 million compared to $346 million, prior year. Earnings per share was $2.60 compared to $3.16.

Fourth quarter net sales were $3.60 billion, up 7.3% from a year ago. Comparable store sales rose 5.3%.

On March 6, 2023, the company's Board of Directors authorized and declared a quarterly dividend of $1.00 per share on common stock and class B common stock. The dividend is payable in cash on March 31, 2023 to stockholders of record at the close of business on March 17, 2023. The company noted that the dividend represents an increase of 105% over the previous quarterly per share amount and is equivalent to an annualized dividend of $4.00 per share.

Shares of DICK'S Sporting Goods are up 4% in pre-market trade on Tuesday.

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Dick's Sporting Goods Inc. 209,15 2,52% Dick's Sporting Goods Inc.