Hibbett Inc. Announces Drop In Q1 Income, misses estimates

Hibbett Inc. (HIBB) revealed a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $39.347 million, or $2.89 per share. This compares with $84.766 million, or $5.00 per share, in last year's first quarter.

Analysts on average had expected the company to earn $3.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.3% to $424.051M from $506.861M last year.

Hibbett Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $39.347 Mln. vs. $84.766 Mln. last year.
-EPS (Q1): $2.89 vs. $5.00 last year.
-Analyst Estimates: $3.08
-Revenue (Q1): $424.051M vs. $506.861M last year.

Full year EPS guidance: $9.75 to $10.50

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