What Awaits Academy Sports and Outdoors (ASO) in Q4 Earnings?

Academy Sports and Outdoors, Inc. ASO is scheduled to report fourth-quarter fiscal 2023 results on Mar 21. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 15.9%.

Q4 Estimates

The Zacks Consensus Estimate for earnings is pegged at $2.31 per share, indicating growth of 13.2% from the $2.04 reported a year ago.

The consensus mark for revenues is pegged at $1.78 billion, suggesting a gain of 1.7% from the year-ago reported figure.

Factors to Note

Academy Sports and Outdoors’ fiscal fourth-quarter performance is likely to have been aided by product innovation and expansion efforts. An increase in demand for indoor and outdoor games, bikes, fitness equipment, and outdoor cooking bodes well. Partnerships with vital national brands, such as Nike, Adidas, Under Armour, Columbia and The North Face, are likely to have been encouraging.

The company’s focus on omnichannel improvements and digital enhancements, along with strengthening its inventory position (with seasonally appropriate products) to ensure its growth momentum, also bodes well. However, dismal comparable sales and a challenging macro environment are likely to have negatively impacted ASO’s performance.

Academy Sports and Outdoors, Inc. Price and EPS Surprise

 

Academy Sports and Outdoors, Inc. Price and EPS Surprise

Academy Sports and Outdoors, Inc. price-eps-surprise | Academy Sports and Outdoors, Inc. Quote

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Academy Sports and Outdoors this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Academy Sports and Outdoors has an Earnings ESP of 0.00% and a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

Recent Consumer Discretionary Releases

Hyatt Hotels Corporation H delivered decent fourth-quarter 2023 results, with earnings topping the Zacks Consensus Estimate but declining on a year-over-year basis. H's revenues surpassed the consensus mark and increased year over year.

Hyatt’s quarterly results reflected year-over-year growth in comparable system-wide revenue per available room, driven by an increase in occupancy and average daily rate. The uptrend is mainly driven by strong global travel demand, especially among leisure and business guests, and group customers. However, increased costs and expenses, and foreign currency risks partially offset the aforementioned tailwinds and hurt the bottom line.

Planet Fitness, Inc. PLNT reported fourth-quarter 2023 results, with earnings and revenues beating the Zacks Consensus Estimate. Both metrics increased on a year-over-year basis.

However, management cited concerns about continued macroeconomic uncertainty and a slowdown in sales (due to a transition toward more strength equipment over cardio). PLNT anticipates 2024 sales distribution to resemble that registered in 2023, suggesting a return to a standard quarterly rhythm.

Live Nation Entertainment, Inc. LYV reported mixed fourth-quarter 2023 results, with earnings missing the Zacks Consensus Estimate but revenues beating the same. Revenues surpassed the consensus estimate for the seventh straight quarter.

LYV has been benefiting from the pent-up demand for live events and robust ticket sales. It continues to benefit from the robust performance of Ticketmaster and an increase in fan spending. In 2023, 145 million fans attended more than 50,000 events.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Hyatt Hotels Corporation (H) : Free Stock Analysis Report

Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report

Planet Fitness, Inc. (PLNT) : Free Stock Analysis Report

Academy Sports and Outdoors, Inc. (ASO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.