Academy Sports & 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?
Did ASO Beat Earnings? Q2 2026 Results
Yes. Academy Sports & 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 & Outdoors CEO, on the earnings call
What Is Academy Sports & 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 & Outdoors Report Next?
Figures from SEC filings and company reports. Not investment advice.