Academy Sports Narrows FY23 Net Sales Outlook From $6.175B-$6.365B To $6.110B-$6.170B Vs. $6.23B Consensus; Revises Adjusted EPS Outlook From $6.95-$7.65 To $7.05-$7.20 Vs. $7.13 Estimate
Portfolio Pulse from Benzinga Newsdesk
Academy Sports (ASO) has updated its FY23 net sales forecast, narrowing the range from $6.175B-$6.365B to $6.110B-$6.170B, which is below the consensus estimate of $6.23B. The company also revised its adjusted EPS outlook, raising the lower end of the range from $6.95-$7.65 to $7.05-$7.20, compared to the estimate of $7.13.

November 30, 2023 | 1:17 pm
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Academy Sports (ASO) has revised its FY23 net sales and adjusted EPS outlook, with sales projections now below consensus estimates but a tightened and slightly improved EPS range.
The downward revision of the net sales forecast by Academy Sports is likely to be perceived negatively by investors as it falls below the consensus estimate, potentially leading to a short-term negative impact on the stock price. However, the improvement in the EPS guidance could offset some of the negative sentiment, as it suggests better profitability. The net effect is likely to be negative in the short term due to the weight of sales expectations in investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100