Shares in Dick’s Sporting Goods were up 0.7% to $127.29 on Tuesday morning after the retailer released its earnings report for the first financial quarter.
Dick’s Sporting Goods reported earnings per share of $3.40, beating the $2.85 per share that the company earned during the same quarter in 2022. In terms of revenue, the company raked in $2.8 billion, beating Wall Street estimates by $42 million and exceeding last year’s Q1 revenue of $2.7 billion.
For the first quarter, Dick’s earnings per share expanded at a higher rate than its total revenues, signaling that the sporting goods retail chain is growing its profit margin. Prior to the release of the earnings report, Wall Street analysts on average listed the company’s stock as one to buy.
An athletic apparel, footwear, and sports equipment retailer, Dick’s Sporting Goods has 730 stores across the United States. The company also boasts 130 specialist stores, including Golf Galaxy, Public Lands, and Field & Stream.