Dick's Sporting Goods Stock Plummets After Earnings Miss and Weak Guidance
On Tuesday morning, Dick’s Sporting Goods (NYSE: DKS) stock plummeted nearly 31% in the first 15 minutes of trading after missing earnings expectations. The company reported GAAP earnings per share of $3.50 for Q2 2026 — down 26% year-over-year and below analysts’ forecast of $3.78. Sales also fell short, coming in at just under $5.6 billion versus the expected $5.65 billion. The earnings shortfall was partially attributed to share dilution from its acquisition of Foot Locker, which increased shares outstanding by 9.6 million. However, management acknowledged that most of the decline stemmed from internal performance issues. Despite a 4.9% increase in same-store sales and overall revenue growth of 53%, investors were disappointed with how this translated into falling profits. Compounding concerns was weak guidance for fiscal year 2026: Dick’s projected earnings between $11 to $12 per share — well below the expected $14.20 — and sales up to $22.2 billion, shy of Wall Street's target of $22.4 billion.
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