Dick’s Sporting Goods earnings for the first quarter of 2019 have DKS stock down despite it beating estimates.
Dick’s Sporting Goods (NYSE:DKS) reported earnings per share of 59 cents for the first quarter of the year. This matches the company’s earnings per share from the first quarter of 2018. It also comes in above Wall Street’s earnings per share estimate of 58 cents for the period, but couldn’t stop DKS stock from falling today.
The Dick’s Sporting Goods earnings report for the first quarter of 2019 also includes net income of $57.53 million. Net income reported by the company in the same period of the year prior was $60.09 million.
Dick’s Sporting Goods earnings for the first quarter of the year has operating income coming in at $76.07 million. This is a drop from the company’s operating income of $87.33 million reported in the first quarter of the previous year.
The most recent Dick’s Sporting Goods earnings report also has revenue come in at $1.92 billion. This is an increase over the sporting goods company’s revenue of $1.91 billion reported during the same time last year. It also beats out analysts’ revenue estimate of $1.90 billion for the quarter, but DKS stock is still down today.
Dick’s Sporting Goods also takes time in its most recent earnings report to update its outlook for 2019. The company is expecting earnings per share for the year to range from $3.20 to 3.40. Wall Street is estimating earnings per share of $3.26 for the year.
DKS stock was down 6% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2019/05/dicks-sporting-goods-earnings-hit-dks-stock/.
©2019 InvestorPlace Media, LLC
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