Academy Sports (ASO) Q2 Earnings Report Preview: What To Look For
Sporting goods retailer Academy Sports & Outdoor (NASDAQ:ASO) will be reporting earnings tomorrow before the bell. Here’s what you need to know.
Academy Sports met analysts’ revenue expectations last quarter, reporting revenues of $1.36 billion, down 1.4% year on year. It was a weak quarter for the company, with a miss of analysts’ earnings estimates.
Is Academy Sports a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Academy Sports’s revenue to be flat year on year at $1.58 billion, improving from the 6.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.02 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Academy Sports’s peers in the specialty retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Dick's delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 1.1%, and Sportsman's Warehouse reported a revenue decline of 6.7%, topping estimates by 1.3%. Dick's traded down 7.5% following the results while Sportsman's Warehouse was up 7.1%.
Read our full analysis of Dick’s results here and Sportsman's Warehouse’s results here.
Investors in the specialty retail segment have had steady hands going into earnings, with share prices flat over the last month. Academy Sports is up 8% during the same time and is heading into earnings with an average analyst price target of $63.2 (compared to the current share price of $53.58).
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