Academy Sports and Outdoors Inc. (NASDAQ:ASO) stock surged over 11% Wednesday after the sporting goods retailer reported fiscal second-quarter adjusted earnings that beat Wall Street expectations and raised its full-year earnings outlook. Revenue was roughly in line with estimates.
Earnings Beat As Sales Rise 3%
Academy Sports reported second-quarter net sales of $1.647 billion, up 3% from $1.600 billion a year earlier. Sales were just below the $1.650 billion analyst estimate.
Adjusted earnings rose 19.1% to $2.31 per share from $1.94, beating the $2.08 estimate.
GAAP diluted EPS increased 17.3% to $2.17 from $1.85. Net income rose 10% to $137.9 million from $125.4 million.
