Dick’s Sporting Goods (DKS) earnings Q2 2024 [Video]

Dick’s Sporting Goods on Wednesday blew past Wall Street’s earnings estimates in its fiscal second quarter and while the retailer did raise its full-year guidance as a result, the new outlook fell flat up against expectations. 

The sporting goods store comes behind a string of other retailers that issued muted or cautious guidance for the back half of the fiscal year as companies prepare for the presidential election in November and what some fear could lead to a slowdown in consumer spending. 

Here’s how Dick’s did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

• Earnings per share: $4.37 vs. $3.83 expected
• Revenue: $3.47 billion vs. $3.44 billion expected

The company’s reported net income for the three-month period that ended Aug. 3 was $362 million, or $4.37 per share, compared with $244 million, or $2.82 per share, a year earlier. 

Sales rose to $3.47 billion, up about 8% from $3.22 billion …