Dick's Sporting Goods Shatters Expectations: Q1 Earnings Surge Sparks Market Frenzy
Dick's Sporting Goods Shatte...
Subscribe to Newsletter

Dick's Sporting Goods Shatters Expectations: Q1 Earnings Surge Sparks Market Frenzy

23 May 2023
2 min.
Dick's Sporting Goods Shatters Expectations: Q1 Earnings Surge Sparks Market Frenzy

Record-breaking Quarter

Dick's Sporting Goods (NYSE: DKS) witnessed a surge in premarket trading on Tuesday after releasing its outstanding Q1 earnings results, which surpassed analysts' expectations.

Maximizing Financial Performance

  • Adjusted EPS: In the Q1, the company reported an adjusted EPS of $3.40, surpassing expectations by $0.19.
  • Revenue Growth: Revenue experienced a significant increase of 5.2% to $2.84 billion, exceeding expectations by $40 million.
  • Comparable Store Sales: First quarter comparable store sales rose by 3.4%, driven by a 2.7% increase in transactions and higher average ticket sales, slightly below the consensus estimate of 3.66%.

CEO Satisfaction

CEO Lauren Hobart expressed satisfaction with DICK'S first quarter results, highlighting the trust customers place in the company to meet their sports-related needs and its resulting market share growth.

Sales and Profitability Growth

  • Q1 Sales: DICK'S achieved a 5.3% increase in Q1 sales due to strong store sales and transaction growth, resulting in an impressive double-digit EBT margin.
  • Future Outlook: The company remains confident in its ability to drive sales and profitability growth in 2023 and beyond.

Full-Year Forecasts

Management reaffirmed their full-year forecasts, anticipating earnings per diluted share in the range of $12.90 to $13.80, surpassing the $13.40 consensus on Wall Street.

Comparable store sales are projected to remain flat to positive 2%.

Quarterly Dividend

Retailer's board approved and announced a quarterly cash dividend of $1.00 per share.

The dividend is payable on June 30 to stockholders of record as of June 16.

Market Impact

Following the earnings announcement, shares of Dick's Sporting Goods (DKS) experienced a 3% increase.

Other sports retailers such as Academy Sports Outdoors (ASO), Foot Locker (FL), and Hibbett (HIBB) also witnessed slight gains.

Key suppliers, including Adidas (OTCQX: ADDYY), Nike (NKE), and Under Armour (UAA), showed modest upward movement.

Persons1 and Companies7 in the news

President and CEO of Dick's Sporting Goods
1 place
1 place
Under Armour
3 place
Hibbett Sports
5 place
Foot Locker
6 place
Nike, Inc.
7 place
Source foto:
Rating companies
15 Mention
14 Mention
14 Mention
JP Morgan Chase
11 Mention
10 Mention
Ford Motor Company
10 Mention
8 Mention
White House
7 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year