The sporting goods store raised its full-year outlook as a result but the forecast appeared muted compared with expectations.
Here's how Dick's did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended Aug. 3 was $362 million, or $4.37 per share, compared with $244 million, or $2.82 per share, a year earlier. For fiscal 2024, Dick's is now expecting diluted earnings per share to be between $13.55 and $13.90, up from previous guidance of $13.35 to $13.75 per share. At the midpoint, Dick's only raised its earnings guidance by about 18 cents, even though its fiscal second-quarter earnings came in 54 cents higher than expected. At the low end, Dick's earnings guidance falls a bit short of the $13.79 that analysts had expected, according to LSEG.
Last week, the company disclosed in a securities filing that it was the victim of a cyberattack and"certain confidential information" was breached. Dick's said that it activated its"cybersecurity response plan" as a result and engaged with external experts to investigate and isolate the threat.