Big 5 Sporting Goods (BGFV) Stock Hits New High on Robust Earnings And Guidance

BGFV is the biggest gainer in after-hours after Big 5 Sporting Goods Corporation (NASDAQ:BGFV) reported better than estimated first-quarter results and upbeat guidance.

On an adjusted basis the company earned 90 cents a share, $0.40 better than the $0.50 single analyst estimate. Net sales jumped by 25.3% year over year to $272.8 million, compared to the $260.2 million single estimate.

Same-store sales increased 31.8% for the first quarter of fiscal 2021. The company increases quarterly cash dividend by 20% to $0.18 a share. Moreover, Big 5 Sporting declares a special cash dividend of $1.00 per share.

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For the second quarter, the company projects to earn $1.05-$1.25, above the $0.38 single analyst estimate. Expects same-store sales to increase in the range of 22% to 27%.

BGFV stock is up over 26% at $24.04 in the after-hours session.

 

 

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.