Dick's Sporting Goods Inc. (DKS) stock rose 1.4% in Tuesday premarket trading after the sporting goods retailer reported third-quarter earnings that beat expectations and raised its full-year profit guidance. Net income totaled $316.5 million, or $2.78 per share, up from $177.2 million, or $1.84 per share, last year. Adjusted EPS of $3.19 blew past the FactSet consensus for $2.06. Sales of $2.75 billion were up from $2.41 billion last year and also ahead of the FactSet consensus for $2.51 billion. Same-store sales grew 12.2%, well ahead of the FactSet consensus for 3.5% growth. "Our fourth quarter is off to a strong start," said Chief Executive Lauren Hobart in a statement. Dick's expects full-year sales of $12.12 billion to $12.19 billion, comparable sales growth of 24% to 25%, EPS of $12.88 to $13.06 and adjusted EPS of $14.60 to $14.80. the FactSet consensus is for sales of $11.04 billion, comparable sales growth of 22.2% and EPS of $12.40. Dick's stock has soared 149.6% for the year to date while the S&P 500 index has gained 24.7% for the period.
-Tonya Garcia