Why Dick's Sporting Goods Stock Is Climbing Today

Dick's Sporting Goods Inc DKS shares are trading higher Tuesday after the company reported better-than-expected financial results.

Dick's reported second-quarter revenue of $3.1 billion, which beat average analyst estimates of $3.07 billion, according to Benzinga Pro. Second-quarter revenues were up 38% compared to the same quarter in 2019.

The company reported quarterly earnings of $3.68 per share, which beat average analyst estimates of $3.57 per share. 

"Our inventory is healthy and well-positioned, and we are excited about our assortment for the back-to-school season. We are raising our full year 2022 outlook, which continues to incorporate an appropriate level of caution given today's uncertain macroeconomic environment," said Lauren Hobart, president and CEO of Dick's.

Dick's said it expects full-year adjusted earnings to be between $10 and $12 per share versus average analyst estimates of $10.87 per share. The company also raised the low end of its comparable store sales guidance from negative 8% to negative 6%. The company now expects full-year comparable store sales to be in a range of negative 6% to negative 2%. 

See Also: S&P 500, Nasdaq Futures Trade Modestly Higher On Tuesday As Rate Hike Fears Keep Wall Street Muffled

DKS Price Action: Dick's has a 52-week high of $120.56 and a 52-week low of $63.45.

The stock was up 3.03% at $113.71 at press time, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.

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