Academy Sports And Outdoors, Inc. Q2 Profit Decreases, Misses Estimates

(RTTNews) - Academy Sports and Outdoors, Inc. (ASO) released a profit for second quarter that Decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $125.4 million, or $1.85 per share. This compares with $142.6 million, or $1.95 per share, last year.

Excluding items, Academy Sports and Outdoors, Inc. reported adjusted earnings of $131.3 million or $1.94 per share for the period.

Analysts on average had expected the company to earn $2.13 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.2% to $1.599 billion from $1.549 billion last year.

Academy Sports and Outdoors, Inc. earnings at a glance (GAAP) :

-Earnings: $125.4 Mln. vs. $142.6 Mln. last year. -EPS: $1.85 vs. $1.95 last year. -Revenue: $1.599 Bln vs. $1.549 Bln last year.

The Board will pay a quarterly dividend of $0.13 per share on October 9, to stockholders of record as of September 11.

Looking ahead, for the full year, the company has revised its annual guidance in line with Street view.

ASO now expects net income of $360 million (mln) to $410 mln, or $5.30 to $6 per share, compared with the earlier outlook of $350 mln to $410 mln, or $5.10 to $5.90 per share.

Excluding items, income is now anticipated to be $380 mln to $430 mln, or $5.60 to $6.30 per share against the prior outlook of $375 mln to $435 mln, or $5.45 to $6.25 per share.

The company now projects sales of $6 billion (bln) to $6.265 bln against $5.970 bln to $6.265 bln.

Analysts, on average, forecast the firm to earn $5.82 per share on revenue of $6.1 bln for the year.

ASO still expects annual capital expenditure of $180 mln to $220 mln.

ASO was down by 4.48% at $51.15 in the pre-market trade on the Nasdaq.