Big 5 Sporting Goods Corporation (BGFV) stock gained 26.06% in the after-market session on Tuesday, May 4, 2021. Earlier BGFFV shares lost 0.78% in normal trading session and closed at $19.07 per share. BGFV shares have soared 1419.52% over the last 12 months, and they have moved up by 3.75% in the past week. Over the past three months, the stock has gained 36.12%, while over the past six months, it has added 159.81%.
Let’s check out its latest developments
Financial results announcement
On May 4, 2021, Big 5 Sporting Goods Corporation released its financial results for the fiscal 2021 first quarter ended April 4, 2021.
Q1 2021 financial highlights
- Net sales for the fiscal 2021 first quarter were $272.8 million compared to net sales of $217.7 million for the first quarter of fiscal 2020,
- Q1 20201 gross profit was $97.9 million compared to $64.6 million in the first quarter of the prior year.
- The gross profit margin was 35.9% in Q1 2021compared to 29.6% in Q1 2020.
- BGFV reported a net income of $21.5 million, or $0.96 per diluted share in Q1 2021 compared to a net loss of $4.6 million, or $0.22 per basic share in Q1 2020.
- Adjusted EBITDA was $30.3 million in Q1 2021, compared to a loss of $2.2 million in the prior-year period.
- BGFVhad cash and cash equivalents of $100.1 million at the end of Q1 2021.
Quarterly cash dividend announcement
BGFV’sboard of directors has declared a 20% increase in its quarterly cash dividend from $0.15 per share of outstanding common stock to $0.18 per share of outstanding common stock, which will be paid on June 15, 2021.
The company’s board of directors also announced a special cash dividend of $1.00 per share of outstanding common stock, which will be paid on June 1, 2021.
Second Quarter 2021 financial outlook
BGFV is expecting an increase of 22 to 27% in sales in Q2 2021.
- BGFV is also expecting earnings per diluted share in the range of $1.05 to $1.25.
Q4 2020 financial highlights
- Net sales for the fourth quarter were $290.6 million compared to net sales of $244.1 million fourth quarter of fiscal 2019.
- Gross profit for Q4 2020was$102.4 million, compared to $77.0 million in Q4 2019.
- Net income for the fourth quarter of fiscal 2020 was $21.0 million, or $0.95 per diluted share compared to a net income of $0.4 million, or $0.02 per diluted share in Q4 2019.
The BGFV stock surged in the after-hours after the financial results announcement which is much improved as compared to the first quarter in 2020. We are hopeful that BGFV will continue its rally on Wednesday as well.