Dick's Sporting Goods Shares Rally After Q1 Earnings Beat, Raise Guidance

Dick's Sporting Goods DKS reported quarterly earnings of 61 cents per share, which beat the analyst consensus estimate of 58 cents. This is a 3.39 percent increase over earnings of 59 cents per share from the same period last year.

Dick's Sporting Goods reported quarterly sales of $1.92 billion, which beat the analyst consensus estimate of $1.9 billion. This is a 0.52 percent increase over sales of $1.91 billion the same period last year.

The retailer raised 2019 EPS guidance from $3.15-$3.35 to $3.20-$3.40.

"We were pleased with our start to 2019, delivering higher merchandise margins and first quarter earnings per diluted share above last year. Same store sales turned positive in March and remained positive in April, as we started to see the benefits of our key strategies and investments," said CEO Edward Stack in a press release. "We are very enthusiastic about our business and are pleased to increase our full-year earnings outlook."

Dick's Sporting Goods shares were trading higher by 3.1 percent at $36.90 Wednesday morning.

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