Published • loading... • Updated
Nike earnings, revenue top estimates even as China sales drop 12%
Net income rose 407% to $1.1 billion as a 52-cent-per-share tariff refund benefit offset weaker sales in Greater China and EMEA.
- On Tuesday, Nike Inc. reported a 407% surge in Q4 net income to $1.1 billion, with diluted EPS rising to $0.72, driven by an expected $0.52-per-share benefit from IEEPA tariff refunds.
- Underlying net sales fell 1% to $10.97 billion, reflecting broader operating headwinds, though CEO Elliott Hill stated the company "took decisive actions" to strengthen its foundation.
- Wholesale revenues grew 4% to $6.6 billion, partially offsetting weakness, while Nike Direct revenues dropped 7% to $4.1 billion and Converse revenues fell 32% to $244 million.
- Excluding the tariff benefit, adjusted earnings per share were 20 cents, with CFO Matthew Friend emphasizing "financial discipline in an increasingly challenging operating environment."
- For the full fiscal year, net income fell 3% to $3.11 billion, and the company provided no forward guidance, leaving investors without a clear roadmap.
Insights by Ground AI
26 Articles
26 Articles
Nike has presented quarterly results, which show that sales in China have fallen. Revenue comes in at more than expected.
·Denmark
Read Full Article
Nike had a profit of US$0.20 per share, excluding a benefit of US$0.52 related to the expected recovery of import tariffs, on a revenue that fell 1.1% compared to the same period of the previous year, to US$10.97 billion. The consensus predicted that Nike would earn US$0.12 per share, on a revenue of US$10.85 billion. Despite the positive balance, the actions of the sports accessory manufacturer fell, this Tuesday (30). Exclusive material for su…
·Brazil
Read Full Article
4th of July SaleGet 40% off Vantage subscriptions for yourself or a friend.Get Started
Coverage Details
Total News Sources26
Leaning Left7Leaning Right3Center6Last UpdatedBias Distribution44% Left
Bias Distribution
- 44% of the sources lean Left
44% Left
L 44%
C 37%
R 19%
Factuality
To view factuality data please Upgrade to Premium
