- The stock price of Academy Sports and Outdoors Inc (NASDAQ: ASO) increased by over 8% this past week. This is why.
The stock price of Academy Sports and Outdoors Inc (NASDAQ: ASO) increased by over 8% this past week.
Why: Q4 results
Q4 results: Academy Sports and Outdoor reported a Q4 EPS of $2.04, which was $0.20 higher than a consensus of $1.84. And the revenue for the quarter was $1.75 billion compared to a consensus of $1.8 billion.
Guidance: Academy Sports and Outdoor estimated an FY 2024 EPS range of $7 to $7.75 compared to a consensus of $7.42. And Academy Sports and Outdoor estimated an FY 2024 revenue range of $6.5 billion to $6.7 billion compared to a consensus of $6.439 billion.
KEY QUOTE:
“For Academy, 2022 was a year that was both rewarding and challenging. The Company accomplished many of the strategic goals we set at the beginning of the year to build a strong foundation for the future, including opening nine new stores. While our business faced pressures from the uncertain macro-economic environment throughout the year, our team effectively executed against our strategic plan, and as a result, we delivered solid earnings, generated and returned a significant amount of free cash flow, and created value for our stakeholders, even though we did not meet our sales expectations. Our focus in 2023 will be investing for growth by opening new stores, building a more powerful omnichannel business, strengthening our current store base, and leveraging and scaling our supply chain.”
- Ken Hicks, Chairman, President and Chief Executive Officer
