FX.co ★ DICK'S Sporting Boosts FY24 Outlook; Stock Up 7% - Update

On Tuesday, DICK'S Sporting Goods Inc. (DKS), a leading retailer in the sporting goods sector, announced an upward revision of its financial forecasts for the full-year 2024 while releasing its third-quarter earnings. The company now anticipates earnings per share to be in the range of $13.65 to $13.95, alongside projected net sales between $13.2 billion and $13.3 billion. The expected consolidated same-store sales growth is forecasted to be between 3.6% and 4.2%.

This marks an improvement from its previous forecast, which estimated earnings per share between $13.55 and $13.90, with net sales ranging from $13.1 billion to $13.2 billion, and a same-store sales growth of 2.5% to 3.5%.

Analysts, as surveyed by Thomson Reuters, anticipate the company will achieve earnings of approximately $13.88 per share with net sales totaling $13.25 billion for the year. Notably, these analyst predictions generally do not account for special items.

Additionally, on Monday, the Board of Directors of DICK'S Sporting Goods declared a quarterly dividend of $1.10 per share for both its common stock and Class B common stock. This dividend is set to be distributed in cash on December 27, 2024, to stockholders recorded at the close of business on December 13, 2024.