Academy Sports Q1 EPS falls 15.1% to $1.01 on 1.4% sales drop; EPS outlook raised
Academy Sports and Outdoors reported first-quarter results for the period ended May 4, 2024, with net sales of $1.36 billion, down 1.4%, and GAAP diluted EPS of $1.01, down from $1.19. The company raised its fiscal 2024 GAAP EPS forecast to $6.05 to $7.05 from $5.90 to $6.90, citing first-quarter share repurchases, while reiterating its sales and net income guidance.
- Net sales $1.36 billion, down 1.4%; comparable sales down 5.7%
- GAAP net income $76.5 million, down 18.6%; diluted EPS $1.01 versus $1.19
- Fiscal 2024 GAAP diluted EPS guidance raised to $6.05 to $7.05 from $5.90 to $6.90; sales and net income guidance unchanged
- Quarterly dividend of $0.11 per share, payable July 18, 2024, to holders of record on June 20, 2024