𝐍𝐈𝐊𝐄: 𝐄𝐏𝐒 𝐁𝐞𝐚𝐭𝐬 𝐛𝐮𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐌𝐢𝐬𝐬𝐞𝐬 𝐚𝐬 𝐅𝐘𝟐𝟎𝟐𝟕 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐅𝐚𝐥𝐥𝐬 𝐁𝐞𝐥𝐨𝐰 𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐬

$NKE (-0,46%)

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📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬

• Diluted EPS: $0.48 (Est. $0.43) ✅

• Revenue: $11.2B (Est. $11.32B) ❌, -4% YoY.

• Gross Margin: 42.8%, +60 bps YoY.

• NIKE Brand Revenue: $11.0B, -4% YoY.

• NIKE Direct Revenue: $4.1B, -8% YoY.

• NIKE Brand Digital Revenue: -13% YoY.

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🎯 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞

• FY2027 Revenue: expected to decline high-single digits YoY (Est. -2.3%) ❌

• FY2027 Adj. EPS: $1.15–$1.35 (Est. $1.67) ❌

• FY2027 Effective Tax Rate: mid-20% range.

• Pace restructuring charges: ~$0.3B expected in FY2027.

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📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬

• EPS exceeded consensus, but revenue came in slightly below expectations and declined 4% YoY.

• NIKE Direct remained under pressure, falling 8%, including a 13% decline in NIKE Brand Digital.

• Gross margin improved 60 bps to 42.8%, supported primarily by lower warehousing and logistics costs.

• FY2027 guidance is the key negative, with a high-single-digit revenue decline versus consensus calling for only ~2% contraction, while Adj. EPS guidance is well below the $1.67 estimate.

• NIKE launched Pace, a broad operating-model transformation targeting ~$2.5B in cumulative savings through FY2031.

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💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐲

“The Sport Offense is driving measurable progress across our performance business, and we introduced Pace to help us accelerate and scale that momentum across NIKE.”