Academy Sports and Outdoors (ASO) Q2 2026 Earnings
Includes $0.06 net tariff refund impact from IEEPA tariff refunds ($83.7M gross refund less reinvestments and third-party payments); also includes $1.9M loss on early retirement of debt
How Did ASO Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +2.12%.
Did ASO Beat Earnings? Q2 2026 Results
Yes. Academy Sports and Outdoors reported Q2 2026 earnings of $2.31 a share on Sep 9, 2026, beating the $2.08 consensus estimate by 11.0%. Revenue was $1.6B against a $1.6B estimate.
Academy Sports & Outdoors delivered a strong second quarter for fiscal 2026, with adjusted diluted EPS of $2.31 beating the $2.08 consensus estimate by 11.05%, even as net sales of $1.65 billion came in essentially in line with expectations, rising 3.0% year-over-year. The standout driver of the quarter's profitability was an $83.70 million IEEPA tariff refund that flowed through gross margin, lifting that figure to 40.4% from 36.0% a year ago; after reinvestments in pricing and customer experience and a payment to a third party, the net tax-effected EPS contribution from the tariff item was $0.06. Operating income climbed to $246.36 million from $172.38 million in the prior-year period, supported by eCommerce growth of 12.8% and three new store openings, though comparable sales dipped 0.4% amid pressure on lower-income consumers. Looking ahead, Academy affirmed its full-year net sales guidance of $6.23 billion to $6.36 billion while raising adjusted diluted EPS guidance to $6.50 to $6.90 and significantly lifting its adjusted free cash flow outlook to $300 million to $350 million, signaling confidence in the company's operational trajectory.
- New store openings contributed to 3.0% net sales growth
- eCommerce sales increased 12.8%
- New stores comping positive at mid-single digits
- Gross margin expanded 440 basis points to 40.4%, driven by tariff refund benefits
- Net tariff refund impact of $0.06 to EPS including reinvestments
- Share repurchases reduced diluted share count from 67,689 to 63,551 thousand
- Inventory per store down 5.6% in units and 2.3% in dollars
“We delivered another quarter of profitable growth, with net sales increasing 3.0%. While consumer spending remains pressured, particularly among lower-income households, our team has continued to execute at a high level by focusing on the key events and categories that matter most to our customers.”
Academy Sports and Outdoors CEO, on the earnings call
What Is Academy Sports and Outdoors's Outlook?
Academy affirmed its fiscal 2026 (year ending January 30, 2027) net sales guidance of $6,230M–$6,355M (3.0%–5.0% growth) and comparable sales of flat to +2.0%. The company raised EPS guidance: GAAP diluted EPS to $6.05–$6.45 (from $5.95–$6.35) and adjusted diluted EPS to $6.50–$6.90 (from $6.40–$6.80). Gross margin rate guidance was raised to 35.5%–36.0% (from 34.5%–35.0%). Adjusted free cash flow outlook was significantly increased to $300M–$350M (from $250M–$300M). Capital expenditures remain at $200M–$240M. Diluted weighted average shares updated to 64.5M (from 66M). Guidance assumes a tax rate of approximately 22.0% and does not include potential future share repurchases.
ASO YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.6B | $1.6B | +3.0% |
| Gross Profit | $665.9M | $576.7M | +15.5% |
| Operating Income | $246.4M | $172.4M | +42.9% |
| Net Income | $137.9M | $125.4M | +9.9% |
When Does Academy Sports and Outdoors Report Next?
Figures from SEC filings and company reports. Not investment advice.