3Jยท

NIKE, Inc. Q1โ€™26 Earnings Highlights

$NKE (-3,52ย %)


๐Ÿ”น Revenue: $11.72B (Est. $10.97B) ๐ŸŸข; +1% YoY

๐Ÿ”น EPS (diluted): $0.49 (Est. $0.27) ๐ŸŸข; -30% YoY

๐Ÿ”น Gross Margin: 42.2% (Est. 41.7%) ๐ŸŸข; -320 bps YoY

๐Ÿ”น Greater China EBIT: $377M (Est. $361.8M) ๐ŸŸข


Q1 Segment:

NIKE Brand

๐Ÿ”น Revenue: $11.36B (Est. $10.55B) ๐ŸŸข; UP +2% YoY (reported); Flat (c-neutral)

๐Ÿ”น NIKE Direct: $4.5B; DOWN -4% YoY (reported); DOWN -5% (c-neutral)

๐Ÿ”น Wholesale: $6.8B; UP +7% YoY (reported); UP +5% (c-neutral)


Converse

๐Ÿ”น Revenue: $366M; DOWN -27% YoY (reported); DOWN -28% (c-neutral)


Other Metrics:

๐Ÿ”น Selling & Administrative Expense: $4.0B; DOWN -1% YoY

๐Ÿ”น Demand Creation Expense: $1.2B; DOWN -3% YoY

๐Ÿ”น Operating Overhead: $2.8B; Flat YoY

๐Ÿ”น Effective Tax Rate: 21.1% (vs. 19.6% LY)

๐Ÿ”น Inventory: $8.11B (Est. $7.92B) ๐ŸŸก; DOWN -2% YoY

๐Ÿ”น Cash & ST Investments: $8.6B; โ†“ ~$1.7B YoY


Other Ops:

๐Ÿ”น NIKE Brand Digital: DOWN -12% YoY

๐Ÿ”น NIKE-owned Retail: DOWN -1% YoY


Capital Returns:

๐Ÿ”น Dividends: $591M; UP +6% YoY (23 consecutive years of dividend increases)

๐Ÿ”น Share Repurchases: $123M (1.8M shares); $12.1B repurchased to-date under the $18B program


CEO / CFO Commentary:

๐Ÿ”ธ โ€œThis quarter NIKE drove progress through our Win Now actionsโ€ฆ we still have work ahead to get all sports, geographies, and channels on a similar path.โ€ โ€” CEO Elliott Hill

๐Ÿ”ธ โ€œMomentum improved, but progress wonโ€™t be linear as parts of the business recover on different timelines; weโ€™re focused on what we can control.โ€ โ€” CFO Matthew Friend

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