ASO FY 2023 Earnings Report — Academy Sports and Outdoors, Inc. Revenue & Financial Results | Market Cap Arena

Academy Sports and Outdoors, Inc.ASO

FY 2023 Earnings

Reported March 21, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$6.2B	—	$6.4B	—	-3.7%
Op. Income	$678M	—	$847M	—	-19.9%
Gross Margin	34.3%	—	34.6%	—	-0.3pp
Net Margin	8.4%	—	9.8%	—	-1.4pp
EPS (Diluted)	$6.70	—	$7.49	—	-10.5%
Free Cash Flow	$327M	—	$443M	—	-26.1%

Revenue Flow

Item	Amount
REVENUE	$6.2B
Cost of Revenue	$4.0B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$154M
General & Administrative	$1.3B
SG&A Expenses	$1.4B
Other Expenses	$0
Operating Expenses	$1.4B
Cost & Expenses	$5.5B
OPERATING INCOME	$678M
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	-$15M
INCOME BEFORE TAX	$663M
Income Tax Expense	$144M
Net Income from Continuing Ops	$519M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$519M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$519M
D&A	$111M
EBIT	$709M
EBITDA	$820M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$6.2B
Cost of Revenue	$4.0B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$154M
General & Administrative	$1.3B
SG&A Expenses	$1.4B
Other Expenses	$0
Operating Expenses	$1.4B
Cost & Expenses	$5.5B
OPERATING INCOME	$678M
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	-$15M
INCOME BEFORE TAX	$663M
Income Tax Expense	$144M
Net Income from Continuing Ops	$519M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$519M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$519M
D&A	$111M
EBIT	$709M
EBITDA	$820M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$519M
Depreciation & Amortization	$111M
Stock-Based Compensation	$24M
Deferred Income Tax	-$4M
Other Non-Cash Items	$21M
Change in Working Capital	-$135M
OPERATING CASH FLOW	$536M
Capital Expenditure	-$208M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$206M
Net Debt Issuance	-$103M
Common Stock Repurchased	-$203M
Common Dividends Paid	-$27M
Other Financing Activities	$14M
NET CASH FROM FINANCING	-$319M
FREE CASH FLOW	$327M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$348M
Short-Term Investments	$0
Net Receivables	$19M
Inventory	$1.2B
Other Current Assets	$83M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$1.6B
Goodwill	$862M
Intangible Assets	$578M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$35M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$4.7B
Account Payables	$541M
Short-Term Debt	$3M
Deferred Revenue	$97M
Other Current Liabilities	$57M
TOTAL CURRENT LIABILITIES	$880M
Long-Term Debt	$485M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$255M
Other Non-Current Liabilities	$12M
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$2.7B
Common Stock	$743.0K
Additional Paid-In Capital	$242M
Retained Earnings	$1.7B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$1.7B
Net Debt	$1.3B