Categories Earnings, Retail

Earnings preview: What to expect when DICK’S Sporting Goods reports Q1 2019 results

DICK’S Sporting Goods Inc. (NYSE: DKS) is scheduled to report first quarter 2019 earnings results on Wednesday, May 29, before market open. Wall Street expects earnings of $0.59 per share on revenue of $1.90 billion.

Earnings are estimated to be in line with the prior-year quarter while revenue is expected to decline slightly. The company has topped earnings estimates in three of the trailing four quarters.

DICK’S sales have fallen over the past two quarters and the company has been seeing weakness in its hunting segment, mainly due to government restrictions on firearm sales. The retailer has been slowly removing hunting goods from its stores and replacing it with other products.

Comparable sales have also shown a declining trend for the past several quarters. During the fourth quarter earnings announcement, the company had expressed optimism that it would return to positive comp sales in the second quarter of 2019.

DICK’S has been investing significantly in its stores and its e-commerce channel and these investments are likely to prove beneficial going forward. However, higher costs are hurting margins and this trend could continue in the first quarter.

In the fourth quarter of 2018, DICK’S reported earnings in line with estimates and revenue that surpassed expectations. Net sales fell 6.5% to around $2.49 billion while earnings declined 3.6% to $1.07 per share.

Dick's sporting goods Q4 2018 earnings infographic

Consolidated same-store sales fell by 3.7%. E-commerce sales rose 17% while e-commerce penetration was approx. 23% of total net sales.

For the full year of 2019, DICK’S projects EPS to be approx. $3.15 to $3.35. Consolidated same-store sales are currently expected to be approx. flat to an increase of 2%, compared to a 3.1% decrease in 2018.

DICK’S Sporting Goods’ shares have gained 16% so far this year.

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