Athletic apparel brand Nike (NYSE: NKE) will be reporting results this Tuesday after market hours. Here’s what investors should know.
Nike met analysts’ revenue expectations last quarter, reporting revenues of $11.28 billion, flat year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ adjusted operating income estimates.
Is Nike a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Nike’s revenue to decline 2.2% year on year, improving from the 12% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Nike has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Nike’s peers in the consumer discretionary segment, only Carnival has reported results so far. It met analysts’ revenue estimates, delivering year-on-year sales growth of 5.3%. The stock traded up 3.1% on the results.
Read our full analysis of Carnival’s earnings results here.There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 4.2% on average over the last month. Nike is down 10.9% during the same time and is heading into earnings with an average analyst price target of $59.58 (compared to the current share price of $40.91).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
