5 Notable Earnings Reports to Watch

2. Academy Sports and Outdoors, Inc. (NASDAQ: ASO)

Number of Hedge Fund Holders: 45

Shares of Academy Sports and Outdoors, Inc. (NASDAQ: ASO) made a new 52-week high of $46.16 on Friday, 10 September 2021, after delivering impressive financial results for the second quarter. The sporting goods retailer reported adjusted earnings of $2.34 per share for the three months ended July 31, up from $1.81 per share in the comparable period of 2020.

Revenue for the quarter rose 11.5 percent on a year-over-year basis to $1.79 billion. Analysts, on average, were expecting Academy Sports and Outdoors, Inc. (NASDAQ: ASO) to report adjusted earnings of $1.42 per share on revenue of $1.66 billion.

CEO Ken Hicks expressed his satisfaction with the results. Hicks said in a statement:

“The Academy Sports + Outdoors team delivered the best quarterly financial results in the Company’s history as we surpassed the very strong store comparables from last year. We plan to build on this continued success by further sharpening our focus on the fundamentals of the business and investing in our strategic initiatives with the goal of adding new customers, gaining market share and driving sales and profit growth.”

Looking forward, Academy Sports and Outdoors, Inc. (NASDAQ: ASO) expects revenue in the range of $6.465 billion to $6.620 billion for its fiscal year 2021, compared to the consensus forecast of $6.20 billion.