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Academy Sports and Outdoors (ASO) to Report Q1 Earnings: What to Expect?
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Academy Sports and Outdoors, Inc. (ASO - Free Report) is scheduled to report first-quarter fiscal 2024 results on Jun 11. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 5.6%.
Q1 Estimates
The Zacks Consensus Estimate for earnings is pegged at $1.24 per share, indicating a decline of 4.6% from $1.30 a year ago.
The consensus mark for revenues is pegged at $1.37 billion, suggesting a decrease of 0.7% from the year-ago figure.
Factors to Note
Academy Sports and Outdoors’ fiscal first-quarter performance is likely to have been hurt by dismal comparable sales performance. A decrease in discretionary spending by middle and low-income consumers is likely to have hurt the company. Additionally, ASO's underperforming categories like Outdoor are also projected to have contributed to the weak performance.
However, product innovation and expansion efforts are likely to have aided. An increase in demand for indoor and outdoor games, bikes, fitness equipment and outdoor cooking bodes well.
The company’s focus on omnichannel improvements and digital enhancements, as well as strengthening its inventory position (with seasonally appropriate products) to ensure growth momentum, also bodes well.
Academy Sports and Outdoors, Inc. Price and EPS Surprise
Our proven model predicts an earnings beat for Academy Sports and Outdoors this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Academy Sports and Outdoors has an Earnings ESP of +2.11% and a Zacks Rank #3 (Hold) at present.
Consumer Discretionary Releases
Boyd Gaming Corporation (BYD - Free Report) reported mixed first-quarter 2024 results, with earnings missing the Zacks Consensus Estimate but revenues beating the same. The top and bottom lines declined on a year-over-year basis.
BYD’s performance was adversely impacted by January's severe winter weather in the Midwest and South, and a softer Las Vegas local market.
Royal Caribbean Cruises Ltd. (RCL - Free Report) reported stellar first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
RCL benefited from robust demand, strong pricing (on closer-in demand), solid onboard spending and favorable timing of expenses. It also raised its 2024 adjusted EPS guidance on the back of an exceptional WAVE season and continued strong demand.
Pool Corporation (POOL - Free Report) reported drab first-quarter 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. Also, the top and bottom lines declined year over year. POOL’s operations were affected by lower pool construction activity, economic pressures and weather-related constraints.
POOL raised its annual earnings guidance to account for year-to-date tax benefits. It expects sales and gross margin trends to improve with the onset of the swimming pool season, aligning with seasonal buying patterns.
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Academy Sports and Outdoors (ASO) to Report Q1 Earnings: What to Expect?
Academy Sports and Outdoors, Inc. (ASO - Free Report) is scheduled to report first-quarter fiscal 2024 results on Jun 11. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 5.6%.
Q1 Estimates
The Zacks Consensus Estimate for earnings is pegged at $1.24 per share, indicating a decline of 4.6% from $1.30 a year ago.
The consensus mark for revenues is pegged at $1.37 billion, suggesting a decrease of 0.7% from the year-ago figure.
Factors to Note
Academy Sports and Outdoors’ fiscal first-quarter performance is likely to have been hurt by dismal comparable sales performance. A decrease in discretionary spending by middle and low-income consumers is likely to have hurt the company. Additionally, ASO's underperforming categories like Outdoor are also projected to have contributed to the weak performance.
However, product innovation and expansion efforts are likely to have aided. An increase in demand for indoor and outdoor games, bikes, fitness equipment and outdoor cooking bodes well.
The company’s focus on omnichannel improvements and digital enhancements, as well as strengthening its inventory position (with seasonally appropriate products) to ensure growth momentum, also bodes well.
Academy Sports and Outdoors, Inc. Price and EPS Surprise
Academy Sports and Outdoors, Inc. price-eps-surprise | Academy Sports and Outdoors, Inc. Quote
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Academy Sports and Outdoors this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Academy Sports and Outdoors has an Earnings ESP of +2.11% and a Zacks Rank #3 (Hold) at present.
Consumer Discretionary Releases
Boyd Gaming Corporation (BYD - Free Report) reported mixed first-quarter 2024 results, with earnings missing the Zacks Consensus Estimate but revenues beating the same. The top and bottom lines declined on a year-over-year basis.
BYD’s performance was adversely impacted by January's severe winter weather in the Midwest and South, and a softer Las Vegas local market.
Royal Caribbean Cruises Ltd. (RCL - Free Report) reported stellar first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
RCL benefited from robust demand, strong pricing (on closer-in demand), solid onboard spending and favorable timing of expenses. It also raised its 2024 adjusted EPS guidance on the back of an exceptional WAVE season and continued strong demand.
Pool Corporation (POOL - Free Report) reported drab first-quarter 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. Also, the top and bottom lines declined year over year. POOL’s operations were affected by lower pool construction activity, economic pressures and weather-related constraints.
POOL raised its annual earnings guidance to account for year-to-date tax benefits. It expects sales and gross margin trends to improve with the onset of the swimming pool season, aligning with seasonal buying patterns.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.