Earnings Calendar (29Jun2026)
I am interested in the earnings of Nike, MSC and FactSet in the coming week.
Nike Earnings Preview
Nike’s share price has fallen by more than 43% over the past year. From a technical analysts, the stock is currently rated as a “strong sell”. Analyst sentiment is more constructive, with a “buy” recommendation, an average price target of $55.38, and implied upside of more than 35%.
Income Statement Trends
Total annual revenue increased slightly from $44.5 billion in 2021 to $46.3 billion in 2025. However, revenue exceeded $51 billion in both 2023 and 2024, which suggests a recent pullback in demand.
Gross profit declined modestly from $20.0 billion in 2021 to $19.7 billion in 2025. Nike’s highest gross profit during the period was $22.9 billion in 2024.
Operating income fell sharply from $7.2 billion in 2021 to $3.7 billion in 2025, highlighting meaningful pressure on profitability.
Net income followed a similar pattern, declining from $5.7 billion in 2021 to $3.2 billion in 2025. Nike’s strongest year for net income during this period was 2022.
Balance Sheet Trends
Between 2021 and 2025, Nike’s total assets declined from $37.7 billion to $36.5 billion. The company recorded its highest asset base during this period in 2022, at $40.3 billion. On the liabilities side, Nike reduced total liabilities from $24.9 billion in 2021 to $23.3 billion in 2025. Total debt also moved lower, falling from $12.8 billion to $11.0 billion over the same period.
Cash Flow Trends
Cash flow from operations is a key area to watch. It declined from $6.6 billion in 2021 to $3.6 billion in 2025, although Nike generated its strongest operating cash flow during the period in 2024, at $7.4 billion.
Nike news from Q1/2026 (from Gemini)
Nike’s Q1 2026 performance highlights a cautious turnaround under CEO Elliott Hill, driven by the “Sport Offence” strategy to prioritise performance innovation and repair retail partnerships.
Financial Highlights
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Revenue: Flat at $11.3B–$11.7B (down 1%–3% in constant currency).
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Earnings: EPS hit $0.35, beating Wall Street consensus by ~24%.
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Margins: Gross margin compressed to 42.2% due to promotional markdowns and heavy inventory liquidation.
Strategic Pivots
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Wholesale Resurgence: Wholesale revenue grew 5%–7% as Nike reclaimed shelf space at Dick’s and Foot Locker. Conversely, DTC sales fell 4%, led by a 12% drop in digital channels.
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Category Performance: Nike Running surged over 20%, serving as a blueprint for recovery. However, Greater China sales tumbled 10%, and Converse revenue plummeted 27%.
While North American operations are stabilising and $714 million was returned to shareholders, Nike warns that global recovery remains highly uneven.
EARNINGS
The forecast of EPS and revenue for Nike’s coming earnings are $0.119 and $10.85B.
Given the above, I prefer to monitor Nike stock for now.
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