Dick's Sporting Goods, Inc. (DKS) reported third-quarter GAAP net income declined slightly to $49.2 million from $50.0 million in the comparable quarter last year, while earnings per share for the latest third quarter were $0.41, up from $0.40 in the prior-year period. On average, 27 analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter grew 9.0% to around $1.53 billion, from $1.40 billion, while 22 analysts expected revenues of $1.53 billion for the quarter.
Consolidated same-store sales rose 1.1%, compared with the company's guidance of an approximate 1 to 3% increase. Same-store sales for DICK'S Sporting Goods increased 1.7%, while Golf Galaxy dropped by 8.9%.
Looking ahead to the fourth quarter of 2014, the firm currently expects consolidated earnings per share of about $1.18 to $1.28, while 26 analysts project fourth-quarter earnings of $1.21 per share.
For full-year 2014, the company now expects non-GAAP earnings per share of around $2.75 to 2.85, excluding a gain on the sale of an asset and golf restructuring charges. Analysts estimate annual earnings per share of $2.79.
Earlier, the company expected full-year 2014 non-GAAP earnings of about $2.70 to $2.85 per share.
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