Academy Sports Struggles In Q3 With Lower Sales And Profit, Cuts Outlook For 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2024
0mins
Should l Buy ASO?
Source: Benzinga
Earnings Report: Academy Sports and Outdoors, Inc. reported third-quarter adjusted earnings per share of 98 cents, missing estimates, with quarterly sales of $1.34 billion also falling short of expectations. The company experienced a comparable sales decline of 4.9% but opened eight new stores during the quarter.
Outlook and Stock Performance: The company revised its fiscal year 2024 net sales and adjusted EPS projections downward, anticipating a decrease in comparable sales. ASO stock has dropped over 25% year-to-date, trading down 3.79% to $48.50 in premarket activity.
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Analyst Views on ASO
Wall Street analysts forecast ASO stock price to rise
12 Analyst Rating
4 Buy
8 Hold
0 Sell
Moderate Buy
Current: 54.460
Low
50.00
Averages
57.00
High
65.00
Current: 54.460
Low
50.00
Averages
57.00
High
65.00
About ASO
Academy Sports and Outdoors, Inc. is a full-line sporting goods and outdoor recreation retailer in the United States. The Company's product assortment is focused on key categories of outdoor, apparel, sports and recreation, and footwear through both national brands and a portfolio of over 19 private label brands. It has preferred access to national brands, such as Nike, Under Armour, adidas, Winchester, Columbia Sportswear, Brooks, Skechers, Yeti and Carhartt. Its private label brand portfolio consists of Academy Sports + Outdoors, Magellan Outdoors, BCG, O'rageous, Game Winner, Outdoor Gourmet, Freely and R.O.W. Its primary product types include coolers and drinkware, camping accessories and camping equipment; fitness equipment, fitness accessories and nutrition supplies; outdoor apparel, seasonal apparel, denim, work apparel, graphic t-shirts and accessories; casual shoes, slippers, seasonal footwear, socks; boys and girls footwear, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Academy Sports Prices $500 Million Senior Secured Notes Offering
- Private Offering Scale: Academy Sports and its wholly-owned subsidiary, Academy, Ltd., successfully priced a $500 million offering of 5.875% senior secured notes, expected to close on May 14, 2026, demonstrating the company's financing capability and market confidence.
- Clear Use of Proceeds: The net proceeds from this offering will be used to redeem all outstanding senior secured notes due 2027, repay loans, and for general corporate purposes, indicating the company's strategic intent to optimize its capital structure and reduce financial costs.
- Robust Guarantee Structure: The notes will be secured by certain subsidiaries of Academy, providing senior guarantees and a first-priority lien on nearly all personal property, enhancing investor confidence in the security of the notes.
- Compliance and Market Positioning: The notes are not registered under the Securities Act and are offered only to qualified institutional buyers and non-U.S. persons, reflecting Academy's commitment to regulatory compliance while actively expanding its international market presence.
See More
Academy Sports Prices $500M Senior Secured Notes Offering
- Offering Size: Academy Sports + Outdoors announced the pricing of $500 million in 5.875% senior secured notes through its wholly owned subsidiary, with the offering expected to close on May 14, 2026, thereby strengthening its capital structure.
- Use of Proceeds: The net proceeds from this offering will be utilized to redeem all outstanding senior secured notes due 2027, repay all amounts under its term loan facility, and cover related fees and expenses, optimizing the company's financial position.
- Strategic Implications: By redeeming high-cost debt early, Academy Sports aims to reduce interest expenses and enhance financial flexibility, further supporting its long-term growth strategy and operational efficiency.
- Market Confidence: This notes offering reflects market confidence in Academy Sports' financial health and is expected to help the company capitalize on opportunities during the upcoming 2026 World Cup.
See More
Academy Sports and Outdoors Announces Private Offering of $500 Million in 5.875% Senior Secured Notes Maturing in 2031
Financial Offering: The Academy Sports and Outdoors has announced a private offering of $500 million in senior secured notes.
Interest Rate: The notes will carry an interest rate of 5.875% and are due in 2031.
See More
ACADEMY SPORTS + OUTDOORS REVEALS PRICING FOR SENIOR SECURED NOTES
- Announcement of Senior Secured Notes: Academy Sports + Outdoors has announced the pricing of its senior secured notes.
- Financial Details: The notes are part of a financing strategy aimed at optimizing the company's capital structure.
See More
Academy to Offer $500 Million Senior Secured Notes
- Financing Plan: Academy Sports and Outdoors intends to issue $500 million in senior secured notes through its wholly-owned subsidiary, aiming to fund the redemption of 2027 notes, thereby optimizing its capital structure and reducing financial costs.
- Redemption Notice: The company has issued a notice to redeem the 2027 notes on May 14, 2026, at a price equal to 100% of the principal plus accrued interest, demonstrating its commitment to debt management and liquidity enhancement.
- Guarantee Structure: The new notes will be secured by certain subsidiaries of Academy, with a first-priority lien on substantially all assets, which enhances investor confidence and mitigates financing risks.
- Compliance Statement: The notes will be offered in accordance with securities regulations, exclusively to qualified institutional buyers and non-U.S. investors, ensuring compliance and reducing legal risks.
See More
ACADEMY SPORTS AND OUTDOORS INC ANNOUNCES REDEMPTION DATE FOR 2027 NOTES ON MAY 14, 2026
- Event Announcement: The Academy Sports and Outdoors event is scheduled for redemption on May 14, 2026.
- Future Planning: The date for the event in 2027 has been noted, indicating ongoing preparations and future engagements.
See More
Academy Sports Prices $500 Million Senior Secured Notes Offering
- Private Offering Scale: Academy Sports and its wholly-owned subsidiary, Academy, Ltd., successfully priced a $500 million offering of 5.875% senior secured notes, expected to close on May 14, 2026, demonstrating the company's financing capability and market confidence.
- Clear Use of Proceeds: The net proceeds from this offering will be used to redeem all outstanding senior secured notes due 2027, repay loans, and for general corporate purposes, indicating the company's strategic intent to optimize its capital structure and reduce financial costs.
- Robust Guarantee Structure: The notes will be secured by certain subsidiaries of Academy, providing senior guarantees and a first-priority lien on nearly all personal property, enhancing investor confidence in the security of the notes.
- Compliance and Market Positioning: The notes are not registered under the Securities Act and are offered only to qualified institutional buyers and non-U.S. persons, reflecting Academy's commitment to regulatory compliance while actively expanding its international market presence.
See More
Academy Sports Prices $500M Senior Secured Notes Offering
- Offering Size: Academy Sports + Outdoors announced the pricing of $500 million in 5.875% senior secured notes through its wholly owned subsidiary, with the offering expected to close on May 14, 2026, thereby strengthening its capital structure.
- Use of Proceeds: The net proceeds from this offering will be utilized to redeem all outstanding senior secured notes due 2027, repay all amounts under its term loan facility, and cover related fees and expenses, optimizing the company's financial position.
- Strategic Implications: By redeeming high-cost debt early, Academy Sports aims to reduce interest expenses and enhance financial flexibility, further supporting its long-term growth strategy and operational efficiency.
- Market Confidence: This notes offering reflects market confidence in Academy Sports' financial health and is expected to help the company capitalize on opportunities during the upcoming 2026 World Cup.
See More
Academy Sports and Outdoors Announces Private Offering of $500 Million in 5.875% Senior Secured Notes Maturing in 2031
Financial Offering: The Academy Sports and Outdoors has announced a private offering of $500 million in senior secured notes.
Interest Rate: The notes will carry an interest rate of 5.875% and are due in 2031.
See More
ACADEMY SPORTS + OUTDOORS REVEALS PRICING FOR SENIOR SECURED NOTES
- Announcement of Senior Secured Notes: Academy Sports + Outdoors has announced the pricing of its senior secured notes.
- Financial Details: The notes are part of a financing strategy aimed at optimizing the company's capital structure.
See More
Academy to Offer $500 Million Senior Secured Notes
- Financing Plan: Academy Sports and Outdoors intends to issue $500 million in senior secured notes through its wholly-owned subsidiary, aiming to fund the redemption of 2027 notes, thereby optimizing its capital structure and reducing financial costs.
- Redemption Notice: The company has issued a notice to redeem the 2027 notes on May 14, 2026, at a price equal to 100% of the principal plus accrued interest, demonstrating its commitment to debt management and liquidity enhancement.
- Guarantee Structure: The new notes will be secured by certain subsidiaries of Academy, with a first-priority lien on substantially all assets, which enhances investor confidence and mitigates financing risks.
- Compliance Statement: The notes will be offered in accordance with securities regulations, exclusively to qualified institutional buyers and non-U.S. investors, ensuring compliance and reducing legal risks.
See More
ACADEMY SPORTS AND OUTDOORS INC ANNOUNCES REDEMPTION DATE FOR 2027 NOTES ON MAY 14, 2026
- Event Announcement: The Academy Sports and Outdoors event is scheduled for redemption on May 14, 2026.
- Future Planning: The date for the event in 2027 has been noted, indicating ongoing preparations and future engagements.
See More
