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Academy Sports And Outdoors Registers Mixed Performance In Q4; Eyes New Store Openings In 2023

Shivani Kumaresan
·2 分鐘文章

https://cdn.benzinga.com/files/images/story/2023/03/16/aso.png?optimize=medium&dpr=2&auto=webp&crop=1200%2C800

  • Academy Sports And Outdoors Inc (NASDAQ: ASO) reported a fourth-quarter FY22 sales decline of 3.4% year-on-year to $1.75 billion, missing the consensus of $1.79 billion.

  • Sales were impacted by 6.4% fewer transactions, partially offset by a 1.3% increase in average ticket size.

  • Adjusted EPS of $2.04 beat the analyst consensus of $1.81.

  • Comparable sales declined 5.1%. E-commerce sales grew 1.4% Y/Y, and 100% increase compared to 2019.

  • Gross margin expanded 50 basis points Y/Y to 32.8%, and gross profit fell 1.9% to $572.5 million.

  • Operating margin was 11.7%, and operating income for the quarter rose 3.3% to $204.8 million.

  • The company held $337.1 million in cash and equivalents as of January 28, 2023. Cash provided by operating activities for the quarter totaled $242.8 million.

  • Adjusted EBITDA for the quarter totaled $253.8 million.

  • On March 2, 2023, Academy Sports' Board increased its quarterly cash dividend by 20% to $0.09 per share of common stock, payable on April 13, 2023, to stockholders of record on March 23, 2023.

  • As of the end of the fiscal year, ASO has approximately $300 million remaining under its share repurchase program.

  • "In 2023, our goal is to accelerate sales and profit growth through new store openings, omnichannel expansion and increasing the productivity of existing stores, all while generating significant free cash flow," said CFO Michael Mullican.

  • Outlook: ASO sees FY23 sales of $6.5 billion - $6.7 billion against the consensus of $6.68 billion.

  • The company sees FY23 adjusted EPS of $7.00 - $7.75 versus the consensus of $7.65.

  • It expects FY23 new store openings of 13 – 15.

  • Price Action: ASO shares traded higher by 6.16% at $63.60 on the last check Thursday.

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This article Academy Sports And Outdoors Registers Mixed Performance In Q4; Eyes New Store Openings In 2023 originally appeared on Benzinga.com

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