08:31 AM EDT, 06/11/2024 (MT Newswires) -- Academy Sports and Outdoors ( ASO ) reported fiscal Q1 adjusted earnings Tuesday of $1.08 per diluted share, down from $1.30 a year earlier.

Analysts polled by Capital IQ expected $1.22.

Net sales for the quarter ended May 4 were $1.36 billion, compared with $1.38 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.38 billion.

For fiscal 2024, the company said it now expects diluted EPS of $6.05 to $7.05, up from its prior guidance range of $5.90 to $6.90. Analysts polled by Capital IQ expect $6.65. Net sales for the fiscal year are still expected in the range of $6.07 billion to $6.35 billion, the company said. Analysts surveyed by Capital IQ expect $6.25 billion.

Academy Sports' stock was down more than 6.4% in recent Tuesday premarket activity.

Price: 49.98, Change: -3.44, Percent Change: -6.44