Hibbett: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Hibbett (NASDAQ:HIBB) reported Q3 earnings with an EPS of $2.05, surpassing estimates by 73.73% against the expected $1.18. However, revenue declined by $1.24 million compared to the same period last year. In the previous quarter, Hibbett's share price increased by 22.16% following an earnings beat. The company's past earnings performance shows a mixed track record with both beats and misses on EPS and revenue estimates.
November 21, 2023 | 11:35 am
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Hibbett reported a significant earnings beat with an EPS of $2.05, greatly exceeding the estimate of $1.18. However, revenues slightly declined from the previous year. Historically, the stock has reacted positively to earnings beats.
The substantial beat on the EPS estimate is likely to be viewed positively by investors, as seen in the past quarter's 22.16% share price increase following an earnings beat. The revenue decline is a concern, but the magnitude of the EPS beat may overshadow this in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100