Dicks Sporting Goods Inc
Q3 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.90%.
Did DKS Beat Earnings? Q3 2026 Results
Dick's Sporting Goods delivered a mixed third quarter for fiscal 2026, posting adjusted EPS of $2.07 against a consensus estimate of $2.71, a miss of 23.49%, while revenue of $4.17 billion fell 6.02% short of the $4.43 billion analysts had expected, even as total sales climbed 36.3% year over year. The central story behind the headline shortfall was the company's landmark acquisition of Foot Locker, completed September 8, 2025, which folded $930.91 million in Foot Locker revenue into results alongside a business loss of $46.33 million and $138.55 million in merger and integration costs that weighed heavily on GAAP net income, which dropped to $75.21 million from $227.81 million a year ago. Strip out those one-time charges and the core Dick's Business showed genuine momentum, with non-GAAP EPS of $2.78 and comparable sales growth of 5.7%, prompting management to raise its full-year comp sales outlook to 3.5%-4.0% and lift its DICK'S Business EPS guidance range to $14.25-$14.55, even as the Foot Locker integration, including an anticipated $500-$750 million in future restructuring charges, remains a significant work in progress.
- DICK'S Business comparable sales growth of 5.7% driven by increases in both average ticket and transactions
- Gross margin expansion for the DICK'S Business
- Opened 13 new House of Sport locations and 6 new DICK'S Field House locations during Q3
“The effectiveness of our long-term strategies and the best-in-class execution by our team are driving outstanding results for our DICK'S Business. In the third quarter, the DICK'S Business comps grew 5.7% driven by increases in both average ticket and transactions, and we were pleased to deliver gross margin expansion. Reflecting these strong results and our continued confidence, we are again raising our full-year 2025 outlook for the DICK'S Business. Finally, we welcome our Foot Locker team members to the DICK'S family, and we are excited about the journey underway to return the Foot Locker Business to its rightful place in our industry.”
Dick's Sporting Goods CEO, on the earnings call
Forward Guidance & Outlook
The company raised its full-year fiscal 2025 DICK'S Business guidance: comparable sales growth now expected at 3.5% to 4.0% (up from 2.0% to 3.5%); EPS for the DICK'S Business raised to $14.25-$14.55 (from $13.90-$14.50) based on approximately 81 million diluted shares and a 24% effective tax rate; net sales of $13.95 billion to $14.0 billion; and capital expenditures of approximately $1.2 billion gross ($1.0 billion net). For Q4 2025, Foot Locker Business gross margin is expected to decline 1,000 to 1,500 basis points year-over-year with pro-forma comp sales down mid- to high-single digits, and operating profit expected to be slightly negative excluding one-time restructuring costs. Future pre-tax charges of $500 to $750 million are expected from the review of unproductive Foot Locker assets, inventory optimization, and store closures.
DKS YoY Financials
DKS Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.