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Wednesday, May 18, 2022

Academy Sports and Outdoors, Inc. (ASO) stock gained in the Current market; here is why?

Academy Sports and Outdoors, Inc. (ASO) stock gained in the current market after announcing its fourth quarter and fiscal 2021 results. ASO’s share price is $39.21, gaining more than 8.33% compared to yesterday’s closing price. ASO stock closed at $36.19 at the end of the last trading session. In the previous trading session, ASO stock volume was around 3.69 million shares. The current market cap of the company is about $3.2 billion.


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ASO: Q4 and Fiscal 2021 Key Financials

  • Academy Sports and Outdoors, Inc.’s revenue in Q4 2021 was $1.8 billion. It is an increase of more than 13.2% compared to the revenue of $1.59 billion in Q4 2020.
  • Fiscal 2021 revenue was $6.7 billion, 19.1% more than the revenue of $5.6 billion in fiscal 2020.
  • The company’s net income in Q4 2021 was around $141.7 million, 54.9% more than compared to the net income of $91.5 million in Q4 2020.
  • ASO’s net income in fiscal 2021 was around $671.3 million, and profitability improved significantly by 117.4% compared to the net income of $308.7 million in fiscal 2020.
  • The Q4 2021 diluted earnings per share were $1.57, compared to the EPS of $0.97 in Q4 2020.
  • For fiscal 2021, the diluted earnings per share were $7.12, compared to $3.79 in fiscal 2020.
  • As of January 29, 2021, the company had cash and cash equivalents of $486 million.

ASO CEO’s Remarks

Academy Sports + Outdoors’ Chairman, President, and CEO, Ken Hicks, called 2021 a landmark year. Despite the various obstacles facing the company and the retail sector, the team achieved record sales and earnings. Our firm has grown significantly in the last three years, and we are thrilled about our future possibilities. Excellent customer service, developing omnichannel capabilities, and many new store openings in both existing and new markets position Academy for significant long-term growth in existing locations.

ASO 2022 Outlook

The company expects revenue between $6.5 billion to $6.77 billion in fiscal 2022. Its net income expectation for the same period is $590 to $640 million.

Conclusion

The company had a full year and achieved record sales in Q4 and fiscal 2021. The company’s sales growth was due to the higher merchandise margins.

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