DICK’S SPORTING GOODS Reports Earnings for Q2 FY2024
August 24, 2023
🌥️Earnings Overview
On July 31 2023, DICK’S SPORTING GOODS ($NYSE:DKS) announced their earnings results for the second quarter of fiscal year 2024. The company reported total revenue of USD 3223.6 million, a 3.6% increase compared to the same period the year prior. Net income, however, decreased 23.3%, amounting to USD 244.3 million.
Price History
The company’s stock opened at $116.8 and closed at $111.5, marking a 24.2% plunge from its previous closing price of 147.0. This sharp decline is being attributed to the company’s poor performance in the second quarter of the fiscal year, as well as market volatility in the current economic environment. Investors were expecting the company to do better in the current quarter due to the higher demand for sports equipment and apparel.
However, these expectations were not met as DICK’S SPORTING GOODS reported weaker than expected results. This has caused many investors to sell their shares in the company, leading to the sharp decline in stock prices on Tuesday. It remains to be seen how DICK’S SPORTING GOODS will fare in the coming quarters and what steps the company will take to turn around its performance and regain investor confidence in its stock. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for DKS. More…
| Total Revenues | Net Income | Net Margin |
| 12.62k | 1.01k | 8.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for DKS. More…
| Operations | Investing | Financing |
| 1.51k | -490.66 | -1.02k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for DKS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.36k | 6.71k | 30.67 |
Key Ratios Snapshot
Some of the financial key ratios for DKS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.6% | 53.9% | 10.7% |
| FCF Margin | ROE | ROA |
| 8.5% | 31.8% | 9.0% |
Analysis
As GoodWhale, we have had the pleasure of analyzing the financials of DICK’S SPORTING GOODS. According to our Star Chart Assessment, DICK’S SPORTING GOODS is strong in asset, dividend, and growth, and medium in profitability. We classify this company as a ‘rhino’, which means moderate revenue or earnings growth has been achieved. Investors who are looking for a stable company that can provide steady returns may be interested in DICK’S SPORTING GOODS. It has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable to sustain future operations in times of crisis. With its strong asset base, dividend yields, and good growth prospects, DICK’S SPORTING GOODS is an attractive option for many investors. More…
Peers
Dick’s Sporting Goods Inc is a leading retailer of sporting goods and apparel in the United States. It operates through two segments: Dick’s Sporting Goods and Golf Galaxy. The company offers a wide range of products, including equipment, footwear, and apparel. It also provides services, such as golf instruction and fitting, hunting and fishing trips, and repairs and replacements. Dick’s Sporting Goods competes with Shimamura Co Ltd, Hibbett Inc, Folli Follie Commercial Manufacturing And Technical SA, and other retailers in the sporting goods and apparel industry.
– Shimamura Co Ltd ($TSE:8227)
Shimamura Co Ltd is a large company with a market cap of 449.84B as of 2022. The company has a return on equity of 7.86%. Shimamura Co Ltd is a Japanese company that operates a chain of general merchandise stores. The company offers a wide range of products, including clothing, household goods, and food.
– Hibbett Inc ($NASDAQ:HIBB)
Hibbett Inc. is a publicly traded company with a market cap of 722.03M as of 2022. The company operates in the retail sector and focuses on selling sporting goods and apparel. Hibbett Inc. has a return on equity of 27.86% as of 2022. The company’s stock is traded on the NASDAQ under the ticker symbol HIBB.
– Folli Follie Commercial Manufacturing And Technical SA ($OTCPK:FLLIY)
Folli Follie Commercial Manufacturing And Technical SA is a Greece-based company engaged in the design, manufacture and sale of jewelry, watches and fashion accessories. The Company’s product portfolio includes rings, earrings, bracelets, necklaces, pendants, cufflinks, key rings and money clips, among others. It also offers a range of watches for men and women. The Company operates a network of over 190 stores in Greece, Cyprus, the United Kingdom, Italy, Hong Kong, China and the United States.
Summary
DICK’S SPORTING GOODS reported their second quarter fiscal year 2024 earnings results on July 31, 2023, with total revenue of USD 3223.6 million, representing a 3.6% increase year over year. Net income was USD 244.3 million, a decrease of 23.3%. On the same day, the company’s stock price dropped. Investors should analyze the reported figures in detail to determine if DICK’S SPORTING GOODS is a good investment opportunity.
Factors to consider include the company’s balance sheet, income statement, competitive edge, and macroeconomic trends. Analyzing the company’s financial performance can help investors make informed decisions when investing in this company.
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