Dick's Sporting Goods shares soar after record profit and sales, special dividend

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Dick's Sporting Goods Inc. DKS, +2.33% shares soared 11% in Wednesday premarket trading after the athletic retailer reported record second-quarter profit and sales. Net income totaled $495.5 million, or $4.53 per share, up from $276.8 million, or $3.12 per share. Adjusted EPS of $5.08 blew past the FactSet consensus for $2.88. Sales of $3.27 billion were up from $2.71 billion and also ahead of the FactSet consensus for $2.84 billion. Comparable sales rose 19.2%, ahead of the FactSet consensus for a 5.4% increase. Dick's announced a special dividend of $5.50 per share on September 24, 2021 to stockholders of record at the close of business on September 10, 2021. The company also increased its quarterly dividend by 21% to $0.4375 per share, also payable on September 24, 2021 to stockholders of record at the close of business on September 10, 2021. Dick's now expects to repurchase a minimum of $400 million shares during 2021, up from previous guidance for $200 million. For 2021, Dick's is guiding for sales of $11.52 billion to $11.72 billion, comparable sales growth of 18% to 20%, EPS of $11.00 to $11.45 and adjusted EPS of $12.45 to $12.95. The FactSet consensus is for sales of $10.95 billion, comparable sales growth of 13.3%, and EPS of $8.94. Dick's stock has more than doubled, up 103.5% for the year to date, while the S&P 500 index SPX, +0.15% has gained 19.4% for the period.

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