ASO - Academy Sports and Outdoors Non-GAAP EPS of $1.69 beats by $0.10 revenue of $1.49B misses by $60M

• Academy Sports and Outdoors press release ( NASDAQ: ASO ): Q3 Non-GAAP EPS of $1.69 beats by $0.10 .
• Revenue of $1.49B (-6.3% Y/Y) misses by $60M .
• Comparable sales declined 7.2%.
• For FY2023, the company expects net sales in the range of $6.43B to $6.49B vs. prior guidance of $6.43B to $6.63B and consensus of $6.55B; adjusted EPS of $7.50 to $7.65 vs. prior view of $6.75 to $7.50 and consensus of $7.17.
• The company expects to open 80 to 100 stores over the next five years.
• “Our year-to-date operating income has now surpassed that of fiscal 2019 and 2020 combined. This is a clear indicator that the operational and organizational improvements made over the past few years have structurally changed the earnings power of the Company and positioned us for future growth,” said Michael Mullican, Executive Vice President and Chief Financial Officer. “As we close out the year, we remain focused on providing our customers with excellent service, broad assortments and value offerings."

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