Academy Sports and Outdoors Inc up 11.07% to $46.57 after beating profits

0

Academy Sports and Outdoors Inc (ASO) announced better than expected results for the second quarter of 2022 this morning.

Earnings from Academy Sports and Outdoors Inc. reached EPS of $2.3 per share, 11.00% above estimates for EPS of $2.08 per share. The company’s earnings are down 2% since reporting $2.34 per share in the same period a year ago. Please keep in mind that reported earnings were on an adjusted basis, so they may not be comparable to previous reports and/or analyst estimates.

Revenue was weak at $1.7 billion. This represents a 5.86% drop in revenue from the prior year’s report and 1.35% below the consensus estimate of $1.7 billion.

The stock is up 11.07% at $46.57 after the report.

The company’s lower revenue growth relative to earnings indicates that the company has been able to reduce costs and improve its profit margin overall.

Wall Street analysts had a strong average buy rating on the stock ahead of the report.

InvestorsObserver gives the stock a bearish sentiment score at the moment based on recent trading.

Academy Sports and Outdoors Inc has been performing very well over the past few months, earning a high long-term technical ranking by InvestorsObserver of 90, placing Academy Sports and Outdoors Inc in the top 25% of stocks. The company set a 52-week low on May 25, 2022 at $25.1 and a 52-week high on November 22, 2021 at $51.08.

Academy Sports and Outdoors Inc is engaged in the retail business of sporting goods and outdoor recreation products. The Company offers outdoor clothing, backpacks, sunglasses, luggage, shooting equipment, fishing equipment, boating and water sports equipment, garden leisure products , outdoor cooking equipment, fitness equipment, electronics, dog supplies and other products.

Share.

Comments are closed.