DICK'S Sporting Goods Q4 Profit Tops Estimates; Comps. Up 2.8%

(RTTNews) - DICK'S Sporting Goods, Inc. (DKS) reported net income of $296 million or $3.57 per share for 14 weeks ended February 3, 2024 compared to $236 million or $2.60 per share for 13 weeks ended January 28, 2023. Non-GAAP earnings per share increased to $3.85 from $2.93. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $3.35, for the quarter. Analysts' estimates typically exclude special items.

For 14 weeks ended February 3, 2024 net sales were $3.88 billion compared to $3.60 billion, for 13 weeks ended January 28, 2023. Analysts on average had estimated $3.8 billion in revenue. Comparable store sales, on 13-week basis, was up 2.8%.

For 2024, the company expects comparable store sales growth to be in the range of 1.0% to 2.0%, and earnings per share to be in the range of $12.85 to 13.25.

On March 13, 2024, the company's Board authorized and declared a quarterly dividend in the amount of $1.10 per share on the common stock and class B common stock. The dividend is payable in cash on April 12, 2024 to stockholders of record at the close of business on March 29, 2024. This dividend represents an increase of 10% over the previous quarterly per share amount and is equivalent to an annualized dividend of $4.40 per share.

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

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