Dick's Sporting Goods Lowers FY2023 Adj. EPS Guidance to $11.50 - $12.30 vs $13.50 Est, Comparable Sales Flat to +2%
Portfolio Pulse from Benzinga Newsdesk
Dick's Sporting Goods has lowered its FY2023 adjusted EPS guidance to $11.50 - $12.30, compared to the previous estimate of $13.50. The company expects comparable store sales to be flat to positive 2.0% on a 52-week basis. Capital expenditures are projected to be between $670 to $720 million on a gross basis and $550 to $600 million on a net basis.
August 22, 2023 | 11:06 am
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Dick's Sporting Goods has lowered its FY2023 EPS guidance, which could negatively impact investor sentiment and potentially lead to a short-term decrease in the company's stock price.
Companies often see their stock prices decrease in the short term when they lower their earnings guidance, as this can signal potential future financial difficulties. In this case, Dick's Sporting Goods has lowered its FY2023 EPS guidance, which could lead to a decrease in investor confidence and a subsequent drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100