Big 5 Sporting Down 14.94% To $6.01 After Earnings Miss

Big 5 Sporting (BGFV) said after close Tuesday that it earned $0.08 per share in quarter three 2023.

On the revenue line, the company reported $239.9 million, missing estimates by $3.7 million.

In the same quarter a year ago, the company earned $0.29 per share on revenue of $261.4 million.

The stock is down 14.94% to $6.01 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

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

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

Prior to the report, InvestorsObserver gave the stock an overall score of 22. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Big 5 Sporting Goods Corp is a specialty retailer company that is principally engaged in the sale of sporting goods in the western United States. Its product mix includes athletic shoes, apparel, and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, winter and summer recreation and roller sports. The company operates solely as a sporting goods retailer, which includes both retail stores and an e-commerce platform. The company operates a distribution center located in Riverside, California, that services all of its stores and e-commerce platform.