BIG 5 SPORTING GOODS Announces Q2 Earnings Results for June 30, 2023
August 16, 2023
🌥️Earnings Overview
On August 1 2023, BIG 5 SPORTING GOODS ($NASDAQ:BGFV) revealed their Q2 fiscal year 2023 earnings for the period ending June 30 2023. Overall revenue for the quarter totaled USD 223.6 million, a drop of 11.9% compared to the same quarter in the prior year. In stark contrast to the 8.93 million in net income reported for the same quarter in the prior year, this quarter showed a net income of -0.28 million.
Share Price
The stock opened at $9.5 and closed at $9.4, a decrease of 2.2% from its last closing price of $9.6. This is a continuation of the downward trend of the company’s stock in the past few weeks. This poor performance is attributed to the rising costs of raw materials, lack of sales, and increased competition in the sporting goods market. Despite this downturn, BIG 5 SPORTING GOODS is still committed to providing its customers with quality products and services.
The company has recently announced a new line of products aimed at providing customers with cutting-edge technology and innovative designs. They have also introduced a loyalty program to reward customers for their continued patronage. With these strategies in place, BIG 5 SPORTING GOODS is confident that they will be able to turn their business around and generate positive returns for the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BGFV. More…
| Total Revenues | Net Income | Net Margin |
| 948.26 | 8.01 | 0.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BGFV. More…
| Operations | Investing | Financing |
| 7.38 | -12.4 | -25.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BGFV. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 705.55 | 447.13 | 11.51 |
Key Ratios Snapshot
Some of the financial key ratios for BGFV are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.3% | -20.4% | 1.1% |
| FCF Margin | ROE | ROA |
| -0.5% | 2.4% | 0.9% |
Analysis
At GoodWhale, we have performed an analysis of BIG 5 SPORTING GOODS’s financials and have concluded that the company is a low risk investment in terms of its financial and business aspects. We have detected only one risk warning in the company’s balance sheet, so you can rest assured that your investment is safe with BIG 5 SPORTING GOODS. If you’d like to learn more about our analysis, please register on goodwhale.com and we’ll provide you with more details. More…
Peers
In the world of sporting goods, there is intense competition among the big players. Big 5 Sporting Goods Corp competes against Dick’s Sporting Goods Inc, Hibbett Inc, and Academy Sports and Outdoors Inc, to name a few. Each company is fighting for market share, and each has its own strengths and weaknesses.
– Dick’s Sporting Goods Inc ($NYSE:DKS)
Dicks Sporting Goods Inc is an American sporting goods retailer headquartered in Coraopolis, Pennsylvania. The company was founded in 1948 by Richard “Dick” Stack. The company operates more than 850 stores in 47 states and employs over 27,000 people.
The company’s market cap is 8.73B as of 2022 and its ROE is 48.91%. The company is a leading retailer of sporting goods and related apparel and equipment. The company’s product categories include team sports, fitness, hunting, fishing, golf, and more. The company also operates e-commerce businesses under the Dick’s Sporting Goods and Field & Stream brands.
– Hibbett Inc ($NASDAQ:HIBB)
Hibbett Sports, Inc. is a publicly traded company with a market capitalization of $750.08 million as of March 2022. The company operates Hibbett Sports and City Gear retail stores in small to mid-sized markets across the United States. Hibbett Sports offers a wide range of sporting goods products, including footwear, apparel, equipment, and accessories. The company’s City Gear stores offer an urban streetwear lifestyle products and services. Hibbett Sports reported a return on equity of 27.86% for the fiscal year ended January 31, 2022.
Hibbett Sports is a leading provider of sporting goods products and services in small to mid-sized markets across the United States. The company operates Hibbett Sports and City Gear retail stores. Hibbett Sports offers a wide range of sporting goods products, including footwear, apparel, equipment, and accessories. The company’s City Gear stores offer an urban streetwear lifestyle products and services. Hibbett Sports reported a return on equity of 27.86% for the fiscal year ended January 31, 2022.
– Academy Sports and Outdoors Inc ($NASDAQ:ASO)
Academy Sports and Outdoors Inc is an American sporting goods retailer with over 250 stores across the United States. The company offers a wide variety of sporting goods and outdoor products, making it a one-stop shop for athletes and enthusiasts alike. Academy Sports and Outdoors Inc has a market cap of 3.56B as of 2022, a Return on Equity of 36.08%. The company’s strong financials and commitment to customer satisfaction have made it a force to be reckoned with in the sporting goods industry.
Summary
BIG 5 SPORTING GOODS recently reported their Q2 earnings for FY2023 and the results were not particularly encouraging. Revenue for the quarter decreased 11.9% year-over-year to USD 223.6 million, while net income plummeted to a net loss of USD -0.28 million, compared to the 8.93 million recorded in the same quarter of the previous year.
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