Hibbett Inc. (HIBB) reported a decline in first-quarter profits compared to the previous year, yet still surpassed Wall Street expectations.
The company posted earnings of $32.5 million, or $2.67 per share, compared to $35.875 million, or $2.74 per share, in the same quarter last year.
According to Thomson Reuters, analysts had projected average earnings of $2.63 per share, generally excluding special items.
Revenue for the quarter dropped by 1.8% to $447.163 million, down from $455.497 million in the prior year.
Summary of Hibbett Inc.'s Q1 performance (GAAP):
- Net Earnings: $32.5 million vs. $35.875 million last year.
- Earnings Per Share: $2.67 vs. $2.74 last year.
- Revenue: $447.163 million vs. $455.497 million last year.
