Academy Sports + Outdoors Raises Full-Year Profit Forecast
Academy Sports + Outdoors (NASDAQ:ASO) raised its full-year adjusted profit forecast following better-than-expected second-quarter earnings. The company reported Q2 adjusted EPS of $2.31, surpassing estimates and rising 19.1% year-over-year. Revenue reached $1.65 billion, in line with expectations but up 3%. Adjusted net income rose to $146.5 million from $136 million expected by analysts. The retailer now anticipates full-year adjusted EPS of $6.50–$6.90, above its previous guidance and the analyst estimate of $6.46. Academy affirmed revenue guidance at $6.23 billion to $6.36 billion, consistent with estimates. E-commerce sales grew 12.8%, while gross margin for Q2 was reported at 40.4%. Analysts noted strong performance in e-commerce and new store openings. Comparable sales fell slightly by 0.4% but were near flat compared to expectations.
Tickers: $ASO
Topics: cost_management e-commerce_growth retail sports_goods