Academy Sports + Outdoors (NASDAQ:ASO) on Wednesday raised its full-year adjusted profit forecast after posting second-quarter earnings that beat analyst estimates, sending shares up 9%.
The sporting goods retailer reported adjusted earnings per share of $2.31 for the quarter, topping estimates of $2.08 and up 19.1% from a year earlier. Revenue came in at $1.65 billion, matching estimates and up 3% year-over-year.
Adjusted net income rose 11.6% to $146.5 million, ahead of the $136 million analysts had expected. Comparable sales fell 0.4% for the quarter.
The company now expects full-year adjusted earnings per share of $6.50 to $6.90, up from its prior guidance of $6.40 to $6.80 and above the $6.46 analyst estimate.
Academy affirmed its full-year revenue guidance of $6.23 billion to $6.36 billion, in line with the $6.33 billion estimate.
The retailer forecast full-year adjusted net income of $420 million to $445 million and capital expenditures of $200 million to $240 million.
Gross margin for the quarter was 40.4%, while e-commerce sales grew 12.8%.
Analysts at Jefferies called it a solid quarter, noting comparable sales came in near-flat and ahead of buyside expectations, while gross margins beat the Street excluding the benefit of tariff refunds.
The firm said e-commerce momentum continued with low-teens percentage growth, new stores delivered mid-single-digit percentage comps, and in-store merchandising continued to improve.
