DICK'S Sporting Goods Q3 Profit Rises, Lifts FY Profit View, Stock Up

(RTTNews) - DICK'S Sporting Goods Inc. (DKS) reported that its net income for the third quarter ended November 2, 2019 rose to $57.6 million or $0.66 per share from $37.8 million or $0.39 per share last year.

On a non-GAAP basis, the company reported consolidated net income for the third quarter ended November 2, 2019 of $44.8 million, or $0.52 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.38 per share. Analysts' estimates typically exclude special items.

Net sales for the third quarter of 2019 increased 5.6% to about $1.96 billion from last year. Consolidated same store sales increased 6.0%. Analysts expected revenues of $1.91 billion.

The company raised full year 2019 earnings per share guidance to $3.63 to 3.73 and raised full year 2019 non-GAAP earnings per share guidance to $3.50 to 3.60, both up from the previous range of $3.30 to $3.45. Analysts expect annual earnings of $3.41 per share. Consolidated same store sales are currently expected to increase 2.5% to 3%, compared to a 3.1% decrease in 2018.

The company said it is continuing the strategic review of its hunt business, including Field & Stream.

In Tuesday pre-market trade, DKS is currently trading at $44.53 up $5.09 or 12.91 percent.