Academy Sports Projects FY24 Net Sales Of $5.895B-$6.075B Vs. $6.13B Estimate (Prior View: $6.070B-$6.350B); Projects Adjusted EPS Of $5.75-$6.50 Vs. $6.44 Estimate
Portfolio Pulse from Nabaparna Bhattacharya
Academy Sports has revised its FY24 net sales projection to $5.895B-$6.075B, down from the previous $6.070B-$6.350B, and below the $6.13B estimate. The adjusted EPS is projected at $5.75-$6.50, also below the $6.44 estimate.
September 10, 2024 | 12:11 pm
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NEGATIVE IMPACT
Academy Sports has lowered its FY24 net sales and adjusted EPS projections, both falling below analyst estimates. This could negatively impact investor sentiment and the stock price in the short term.
The revised projections for net sales and adjusted EPS are both below the market expectations, which typically leads to negative investor sentiment. This is likely to result in a short-term decline in the stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100