Dick's Sporting Goods Sees Q4 Earnings Below View; But Raises FY16 Outlook

(RTTNews) - While reporting its third-quarter financial results today, Dick's Sporting Goods, Inc. (DKS) provided earnings outlook for the fourth quarter below analysts' estimates, but raised its financial outlook for fiscal 2016.

For the fourth quarter of 2016, Dick's Sporting currently forecasts reporting earnings in a range of $1.15 to 1.27 per share, adjusted earnings of $1.19 to 1.31 per share, and consolidated same store sales to increase approximately 3 percent to 6 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.32 per share for the quarter on revenues of $2.44 billion. Analysts' estimates typically exclude special items.

For the full year 2016, Dick's Sporting now forecasts reported earnings of $2.91 to 3.03 per share, adjusted earnings of $2.99 to 3.11 per share, and consolidated same store sales to increase approximately 3 percent to 4 percent.

Earlier, the company forecast fiscal 2016 adjusted earnings of $2.90 to 3.05 per share, and consolidated same store sales to increase approximately 2 percent to 3 percent.

The Street expects the company to report earnings of $3.05 per share for the year on revenues of $7.86 billion.