Hibbett Earnings: What To Look For From HIBB

Anthony Lee /
2024/06/04 3:00 am EDT

Athletic apparel and footwear retailer Hibbett (NASDAQ:HIBB) will be reporting results tomorrow before market open. Here's what to expect.

Hibbett missed analysts' revenue expectations by 2.3% last quarter, reporting revenues of $466.6 million, up 1.8% year on year. It was a weak quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' gross margin estimates.

Is Hibbett a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Hibbett's revenue to be flat year on year at $453.9 million, slowing from the 7.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.63 per share.

Hibbett Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.

Looking at Hibbett's peers in the specialty retail segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Dick's delivered year-on-year revenue growth of 6.2%, beating analysts' expectations by 2.7%, and Ulta reported revenues up 3.5%, in line with consensus estimates. Dick's traded up 15% following the results while Ulta was also up 2.5%.

Read our full analysis of Dick's results here and Ulta's results here.

There has been positive sentiment among investors in the specialty retail segment, with share prices up 11.5% on average over the last month. Hibbett's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $83.9 (compared to the current share price of $86.4).

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