DICK'S Sporting Goods Q3 Profit Tops View; Ups Annual Earnings Outlook Above Estimates; Stock Up 8%

(RTTNews) - DICK'S Sporting Goods, Inc. (DKS) Tuesday reported third-quarter results that came in better than analysts' estimates. The company also raised its full-year earnings outlook, above Street view.

Sporting Goods retailer reported profit of $201.11 million or $2.39 per share for the third quarter, lower than $228.46 million or $2.45 per share in the same quarter a year ago.

Excluding one-time items, earnings were $240 million or $2.85 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $2.45 per share. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 2.8% to $3.042 billion from $2.959 billion last year. The consensus estimate was for $2.94 billion. Comparable-store-sales also increased 1.7%.

The company's Board has declared a quarterly dividend of $1 per share to be paid on December 29, to shareholders of record on December 15.

For the full year, DICK'S Sporting Goods now expects adjusted EPS to be in the range of $12.00 - 12.60, up from the previous outlook of $11.50 - 12.30. Analysts expect earnings of $11.79 per share for the year.

As of this writing, shares of the company are up 8% in pre-market trading. The stock had closed at $119.01, up 0.79% on Monday. It has traded in the range of $100.98 - $152.61 in the last 1 year.