Score Big with Academy Sports & Outdoors: A Look at Their Impressive Third Quarter 2024 Performance!
Description:
Net Sales Decline (3.9)% ; Comparable Sales of (4.9)% GAAP Diluted EPS of $0.92 , or $0.98 Adjusted Diluted EPS 1 Year-to-Date GAAP Operating Cash Flow +29%; Year-to-Date Adjusted Free Cash Flow 1 +67% vs LY Authorizes New $700 Million Share Repurchase Program Plans to Open 20 to 25 New Stores in Fiscal 2025 KATY, Texas, Dec. 10, 2024 (GLOBE NEWSWIRE) — Academy Sports and Outdoors, Inc. (Nasdaq: ASO) (“Academy” or the “Company”) today announced its results for the third quarter ended November 2, 2024. Financial and operational highlights include: Opened 16 stores in fiscal 2024, consistent with plan, including further expansion into Ohio Narrowed fiscal 2024 guidance to Net Sales of $5.89B to $5.94B “We delivered third quarter sales in line with expectations and were encouraged to see an improvement in comp sales trends versus the first half of the year,” said Steve Lawrence, Chief Executive Officer.
Article:
As the year 2024 comes to a close, Academy Sports & Outdoors has shown an impressive performance in their third quarter. Despite a slight decline in net sales and comparable sales, the company’s GAAP Diluted EPS of $0.92, or $0.98 Adjusted Diluted EPS, highlight a strong financial position. With a 29% increase in Year-to-Date GAAP Operating Cash Flow and a remarkable 67% surge in Year-to-Date Adjusted Free Cash Flow compared to last year, Academy Sports & Outdoors is making significant strides in their financial growth.
In addition to their financial achievements, Academy Sports & Outdoors has also authorized a new $700 million share repurchase program, indicating their confidence in the company’s future performance. The company’s plans to open 20 to 25 new stores in fiscal 2025 further demonstrate their commitment to expansion and reaching a wider customer base.
Steve Lawrence, the Chief Executive Officer of Academy Sports & Outdoors, expressed his satisfaction with the third quarter results. He mentioned that the company delivered sales in line with expectations and noted an improvement in comparable sales trends compared to the first half of the year. This positive outlook bodes well for the future prospects of Academy Sports & Outdoors.
How will this affect me?
As a consumer, the impressive performance of Academy Sports & Outdoors in the third quarter of 2024 can benefit you in various ways. The company’s financial stability and growth indicate that they will continue to offer a wide range of high-quality products at competitive prices. With plans to open new stores, you may have easier access to their products, potentially leading to a better shopping experience.
How will this affect the world?
Academy Sports & Outdoors’ strong performance reflects positively on the retail industry as a whole. By expanding their operations and increasing their financial strength, the company is contributing to economic growth and job creation. Additionally, their commitment to opening new stores signifies a positive outlook for the retail sector, potentially leading to increased competition and more choices for consumers worldwide.
Conclusion:
In conclusion, Academy Sports & Outdoors’ impressive third quarter performance in 2024 showcases their financial resilience and growth potential. With a focus on expanding their store presence, investing in share repurchase programs, and delivering positive sales results, the company is well-positioned for future success. As a consumer, you can expect a wider range of products and improved shopping experiences, while the retail industry as a whole stands to benefit from Academy Sports & Outdoors’ positive impact on the market.
