Why Are Academy Sports And Outdoors Shares Surging Today

Academy Sports And Outdoors Inc ASO reported fourth-quarter FY21 sales growth of 13.2% year-on-year, to $1.81 billion, beating the consensus of $1.77 billion. Net sales increased 32.0% versus Q4 FY19.
Comparable sales increased 13.1% versus last year. E-Commerce sales rose 22.7%.
Adjusted EPS of $1.61 beat the consensus of $1.42.
The gross margin expanded 110 basis points Y/Y to 32.3%, and the gross profit grew 17% to $584.1 million.
The operating margin was 11%, and operating income for the quarter jumped 40.5% to $198.2 million.
The company held $486 million in cash and equivalents as of January 29, 2022.
Outlook: Academy sees FY22 sales of $6.56 billion - $6.77 billion, against the consensus of $6.69 billion.
The company sees FY22 non-GAAP EPS of $6.70 - $7.25 versus the consensus of $6.14.
Price Action: ASO shares traded higher by 8.21% at $39.16 on the last check Tuesday.

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