Earnings Recap – November 25th
Dick’s Sporting Goods
Dick’s Sporting Goods, the athletic wear retailer, reported their third quarter earnings. Earnings per share rose by 59 percent to $3.19, beating the expectation of $2.06 per share, and sales rose by 14 percent to $2.75 billion, beating the expectation of $2.507 billion. According to CEO Ed Stack, this year will be the most transformational for the company as they are changing things with the business, but factory closures in Vietnam have placed a dent in company profits and operations, leaving the report on a sour note.
XPeng is a Chinese electric vehicle start-up who reported their 2021 third quarter earnings. They lost 27 cents per share, missing some analyst expectations but beating others, but sales rose by 187 percent to $887.7 million, beating the expectation of $788.8 million. CEO He Xiaopeng said that the company saw strong growth despite the semiconductor shortage, which was promising, and this was reflected in their share price.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.