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Hibbett Q3 Profit Rises, But Misses Estimates; Backs Full-year Guidance - Update

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Hibbett Inc. (HIBB) announced a profit for its third quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $25.573 million, or $1.94 per share. This compares with $25.192 million, or $1.68 per share, in last year's third quarter.

Analysts on average had expected the company to earn $2.47 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.5% to $433.164 million from $381.719 million last year.

Outlook:

For the full year, Hibbett has reiterated its earnings as well as revenue outlook. The company continues to expect EPS of $9.75 to $10.50. Five analysts, on average, polled by Thomson-Reuters expect the firm to report EPS of $9.76. Analysts' estimates typically exclude one-time items.

Hibbett still expects sales to rise in the low-single digit range, compared to the last year's sales of $1.69 billion. The Street expects the firm to report sales of $1.72 billion for the period.


Hibbett Inc. Q3 earnings at a glance (GAAP) :

-Earnings (Q3): $25.573 Mln. vs. $25.192 Mln. last year.
-EPS (Q3): $1.94 vs. $1.68 last year.
-Analyst Estimate: $2.47
-Revenue (Q3): $433.164 Mln vs. $381.719 Mln last year.

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