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Why is Academy Sports And Outdoors Inc (ASO) Stock down?
We've noticed a 5.07% decline in Academy Sports And Outdoors Inc (ASO) stock during the 2024-11-06 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
21 Mar, 2024:
Academy Sports and Outdoors Inc Stock (ASO) dropped by 9.57% due to the company reporting worse-than-expected fourth-quarter financial results and issuing FY24 EPS guidance below estimates.
- Financial Results: For the quarter ended January 2024, Academy Sports and Outdoors, Inc. reported revenue of $1.79 billion, up 2.8% over the same period last year. EPS came in at $2.21, compared to $2.04 in the year-ago quarter. The reported revenue represents a surprise of +0.59% over the Zacks Consensus Estimate of $1.78 billion. However, the EPS surprise was -5.56%.
- Investor Reaction: The decline in ASO stock reflects investor disappointment with the company's fourth-quarter results and the guidance for fiscal year 2024. The metrics reported, including lower-than-expected comparable sales growth, contributed to the negative investor sentiment.
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