Academy Sports and Outdoors Inc. Up 15.67% To $57.00 After Earnings Beat

Academy Sports and Outdoors Inc (ASO) surpassed earnings projections on 12/7/2022 for Q3 2022.

The consensus among analysts for Academy Sports and Outdoors Inc. was for an earnings per share (EPS) of $1.59. The firm was able to surpass those projections, reporting an EPS of $1.69, a positive surprise of $0.1 (6%). Profits fell 3% year-over-year after reporting an EPS of $1.75 in its year-ago quarter. The negative growth rate signals that the Consumer Cyclical company is struggling to find form amid recent economic conditions.

Consensus analyst estimates were at $1.6 billion. The Consumer Cyclical company missed on those expectations for its third quarter with revenue of $1.5 billion, a negative revenue surprise of $56 million (4%). The firm managed negative 6% growth year-over-year due to Academy Sports and Outdoors Inc. reporting quarterly revenue of $1.6 billion in its year-ago quarter. Academy Sports and Outdoors Inc. achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is up 15.67% to $57.00 after the report.

Academy Sports and Outdoors Inc.'s revenues declined at a faster pace than earnings.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 77. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Academy Sports and Outdoors Inc is engaged in the retail business of sporting goods and outdoor recreation products. The company offers outdoor clothing, backpacks, sunglasses, luggage items, shooting equipment, fishing equipment, boating and water sports equipment, backyard recreation products, outdoor cooking equipment, fitness equipment, electronic items, dog supplies, and other products.