In This Article:
Academy Sports and Outdoors, Inc. ASO reported fourth-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines declined on a year-over-year basis.
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ASO’s Q4 Earnings & Revenues
In the fiscal fourth quarter, the company reported adjusted earnings per share (EPS) of $1.96, beating the Zacks Consensus Estimate of $1.82. In the prior-year quarter, ASO reported an adjusted EPS of $2.21.
Academy Sports and Outdoors, Inc. Price, Consensus and EPS Surprise
Academy Sports and Outdoors, Inc. price-consensus-eps-surprise-chart | Academy Sports and Outdoors, Inc. Quote
Quarterly revenues of $1.68 billion beat the consensus mark by 0.6%. The top line declined 6.6% on a year-over-year basis. The downside was mainly caused by a fall in comparable sales.
Comparable sales during the quarter declined 3% year over year compared with a 3.6% fall reported in the prior-year quarter. The downside was caused by a 5.9% year-over-year decline in transactions. However, this was partially offset by a 3.1% increase in ticket size.
Academy Sports’ Operating Highlights
During the fiscal fourth quarter, selling, general and administrative expenses came in at $385.5 million compared with $393 million reported in the prior-year quarter.
Gross margins during the quarter declined 110 basis points year over year to 32.2%. The downside was mainly due to higher freight and distribution costs and lower merchandise margins.
Adjusted net income during the quarter came in at $138.8 million compared with $168.2 million reported in the prior-year quarter.
Adjusted EBITDA in the fiscal fourth quarter came in at $211.7 million compared with $255.2 million reported in the prior-year quarter.
ASO’s Balance Sheet
As of Feb. 1, 2025, cash and cash equivalents totaled $288.9 million compared with $347.9 million on Feb. 3, 2024.
Merchandise inventories during the quarter came in at $1.3 billion compared with $1.2 billion reported in the prior-year period.
As of Feb. 1, 2025, the long-term debt net stood at $482.7 million compared with $484.6 million reported in the prior-year quarter.
The company declared an 18% dividend hike to 13 cents per share, payable on April 17, 2025, to its shareholders of record as of March 25, 2025.
ASO’s Fiscal 2024 Highlights
Total revenues in fiscal 2024 amounted to $5.9 billion compared with $6.2 billion in fiscal 2023.
Adjusted EBITDA in fiscal 2024 totaled $720.2 million compared with $846 million in fiscal 2023.
In fiscal 2024, adjusted EPS came in at $6.02 compared with $6.96 reported in the previous year.