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What You Need to Know Ahead of Hibbett (HIBB) Q2 Earnings
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Hibbett, Inc. (HIBB - Free Report) is likely to witness a year-over-year decline in its top and bottom lines when it reports second-quarter fiscal 2024 earnings on Aug 25. The Zacks Consensus Estimate for revenues is pegged at $373.9 million, indicating growth of 4.8% from the prior-year quarter’s reported figure.
The consensus estimate for earnings has moved up 2.7% to 76 cents in the past seven days. However, this indicates a decline of 59% from that reported in the prior-year period.
We expect fiscal second-quarter net revenues to decline 5.1% year over year to $372.8 million and the bottom line to plunge 67.8% to 60 cents.
Hibbett, which engages in the retail of athletic-inspired fashion products, has a negative trailing four-quarter average earnings surprise of 12.9%. HIBB’s earnings missed the Zacks Consensus Estimate by 8.1% in the last reported quarter.
Hibbett’s fiscal second-quarter 2024 results are expected to reflect adverse impacts of inflation, job losses, higher interest rates and weak consumer confidence that affected purchasing behavior, particularly for discretionary products and services. On its last earnings call, management expected these headwinds to hurt the company’s fiscal second-quarter performance.
Higher promotional activities across both footwear and apparel are likely to have acted as deterrents for the quarter under review.
However, the company remains focused on its store growth plan and improved product assortment to attract consumers. HIBB has been gaining from small market strategy as it continues to strengthen its presence across the country.
Solid e-commerce business and expansion of the loyalty program bodes well. Hibbett has been boosting its customer base by connecting with more customers through e-commerce and selective store expansion. Further, it is leveraging its omni-channel capabilities such as home delivery, buy online and pick-up in store, reserve online and pick-up in store, buy online ship to store facility, same day delivery and mobile app services to fulfill online orders and serve customers. Hibbett is progressing well with its loyalty program in order to enhance its omni-channel initiatives.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Hibbett this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Hibbett currently has a Zacks Rank #4 (Sell) and an Earnings ESP of -20.53%.
Stocks With Favorable Combination
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
The company is expected to register bottom-line growth when it reports fiscal second-quarter 2023 results. The Zacks Consensus Estimate for quarterly earnings per share of 15 cents indicates an increase of 275% from the year-ago quarter’s level. American Eagle Outfitters’ top line is anticipated to decline year over year. The consensus mark for revenues is pegged at $1.19 billion, indicating a deterioration of 0.9% from that reported in the year-ago quarter.
Five Below (FIVE - Free Report) currently has an Earnings ESP of +1.21% and a Zacks Rank of 2. FIVE is likely to register top-line improvement when it reports fiscal second-quarter 2023 results.
The Zacks Consensus Estimate for Five’s quarterly revenues is pegged at $760.2 million, indicating growth of 13.6% from the prior-year quarter’s reported figure. The consensus mark for the quarterly earnings per share of 83 cents implies a 12.2% year-over-year increase. FIVE has a trailing four-quarter average earnings surprise of 27.9%.
Costco (COST - Free Report) currently has an Earnings ESP of +1.08% and a Zacks Rank of 3. The company is likely to register an increase in its bottom line when it reports fiscal fourth-quarter 2023 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $4.72 indicates an improvement of 12.4% from the year-ago reported figure.
Costco’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $78.86 billion, implying an increase of 9.4% from the prior-year quarter’s level. COST has a trailing four-quarter average earnings surprise of 1.8%.
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What You Need to Know Ahead of Hibbett (HIBB) Q2 Earnings
Hibbett, Inc. (HIBB - Free Report) is likely to witness a year-over-year decline in its top and bottom lines when it reports second-quarter fiscal 2024 earnings on Aug 25. The Zacks Consensus Estimate for revenues is pegged at $373.9 million, indicating growth of 4.8% from the prior-year quarter’s reported figure.
The consensus estimate for earnings has moved up 2.7% to 76 cents in the past seven days. However, this indicates a decline of 59% from that reported in the prior-year period.
We expect fiscal second-quarter net revenues to decline 5.1% year over year to $372.8 million and the bottom line to plunge 67.8% to 60 cents.
Hibbett, which engages in the retail of athletic-inspired fashion products, has a negative trailing four-quarter average earnings surprise of 12.9%. HIBB’s earnings missed the Zacks Consensus Estimate by 8.1% in the last reported quarter.
Hibbett, Inc. Price and EPS Surprise
Hibbett, Inc. price-eps-surprise | Hibbett, Inc. Quote
Key Factors to Consider
Hibbett’s fiscal second-quarter 2024 results are expected to reflect adverse impacts of inflation, job losses, higher interest rates and weak consumer confidence that affected purchasing behavior, particularly for discretionary products and services. On its last earnings call, management expected these headwinds to hurt the company’s fiscal second-quarter performance.
Higher promotional activities across both footwear and apparel are likely to have acted as deterrents for the quarter under review.
However, the company remains focused on its store growth plan and improved product assortment to attract consumers. HIBB has been gaining from small market strategy as it continues to strengthen its presence across the country.
Solid e-commerce business and expansion of the loyalty program bodes well. Hibbett has been boosting its customer base by connecting with more customers through e-commerce and selective store expansion. Further, it is leveraging its omni-channel capabilities such as home delivery, buy online and pick-up in store, reserve online and pick-up in store, buy online ship to store facility, same day delivery and mobile app services to fulfill online orders and serve customers. Hibbett is progressing well with its loyalty program in order to enhance its omni-channel initiatives.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Hibbett this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Hibbett currently has a Zacks Rank #4 (Sell) and an Earnings ESP of -20.53%.
Stocks With Favorable Combination
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
American Eagle Outfitters (AEO - Free Report) currently has an Earnings ESP of +8.52% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is expected to register bottom-line growth when it reports fiscal second-quarter 2023 results. The Zacks Consensus Estimate for quarterly earnings per share of 15 cents indicates an increase of 275% from the year-ago quarter’s level. American Eagle Outfitters’ top line is anticipated to decline year over year. The consensus mark for revenues is pegged at $1.19 billion, indicating a deterioration of 0.9% from that reported in the year-ago quarter.
Five Below (FIVE - Free Report) currently has an Earnings ESP of +1.21% and a Zacks Rank of 2. FIVE is likely to register top-line improvement when it reports fiscal second-quarter 2023 results.
The Zacks Consensus Estimate for Five’s quarterly revenues is pegged at $760.2 million, indicating growth of 13.6% from the prior-year quarter’s reported figure. The consensus mark for the quarterly earnings per share of 83 cents implies a 12.2% year-over-year increase. FIVE has a trailing four-quarter average earnings surprise of 27.9%.
Costco (COST - Free Report) currently has an Earnings ESP of +1.08% and a Zacks Rank of 3. The company is likely to register an increase in its bottom line when it reports fiscal fourth-quarter 2023 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $4.72 indicates an improvement of 12.4% from the year-ago reported figure.
Costco’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $78.86 billion, implying an increase of 9.4% from the prior-year quarter’s level. COST has a trailing four-quarter average earnings surprise of 1.8%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.