CORAOPOLIS, Pa. — Dick’s Sporting Goods Inc. today reported fiscal first-quarter net income of $361.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the company said it had profit of $3.41. Earnings, adjusted for non-recurring costs, were $3.79 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The sporting goods retailer posted revenue of $2.92 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $2.22 billion.
Dick’s expects full-year earnings in the range of $8 to $8.70 per share, with revenue in the range of $10.52 billion to $10.81 billion.
Dick’s shares have increased 50% since the beginning of the year. The stock has more than doubled in the past 12 months.