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The company reported adjusted EPS of $3.40, easily beating the analyst estimate of $3.12. Revenue for the quarter came in at $2.84 billion, ahead of Street at $2.81B. Revenue rose 5.3% year-over-year while comparable sales jumped 3.4% while analysts were expecting a 3.7% increase.
“Our strong start to 2023 demonstrates the sustained strength of our business. We are very enthusiastic about our strategies and continue to invest in our future to fuel long-term growth opportunities, including a return to square footage growth,” said Ed Stack, the company’s chairman.
Dick’s also maintained its full-year guidance as it continues to expect earnings per share in the range of $12.90-$13.80. Comparable sales are seen rising 0-2%. Analysts were expecting FY EPS of $13.33 on comparable sales growth of 1.1%.
