The Pittsburgh company is benefiting from the surge in exercise and outdoor activity that has accompanied the easing of the pandemic.
Dick’s recently traded at $128.37, up 12%. The shares had advanced 52% in the six months through Tuesday.
In the quarter ended July 31, net income totaled $495.5 million, or $4.53 a share, up from $276.8 million, or $3.12 a share, in the year-earlier quarter.
Adjusted profit registered $5.08 a share, higher than the FactSet analyst consensus of $2.88 a share.
Revenue climbed 21% to $3.27 billion from $2.71 billion a year earlier, topping analyst estimates of $2.84 billion.
Same-store sales jumped 19%, compared with analysts’ forecast of 5.4%.
As for the guidance for full-year 2021, Dick’s sees profit of $11 to $11.45 a share. That’s up from its previous prediction of $7.05 to $7.68 a share.
It anticipates adjusted profit of $12.45 to $12.95 a share. That’s up from its prior projection of $8 to $8.70 a share. Analysts in the FactSet survey foresaw $8.94 a share.
The company forecast revenue of $11.52 billion to $11.72 billion for fiscal 2022. That’s up from the previous estimate of $10.52 billion to $10.81 billion. Analysts expected $10.95 billion.
In May, Dick’s reported first-quarter earnings that also beat expectations and again issued strong guidance. The company swung to net income of $3.41 a share from a net loss of $1.71 in the year-earlier quarter.