Companies /Consumer Cyclical

Academy Sports and Outdoors Inc

NASDAQ: ASO Specialty Retail
$49.82
▼ $0.60 (−1.19%) today
Markets open · 1:20pm ET

Q2 2027 Earnings

Reported Sep 9, 2026, 8:02am ET · SEC source
$2.31
Beat +10.82%
EPS · est. $2.08 Adjusted

Includes $0.06 net EPS benefit from IEEPA tariff refunds (after reinvestments) and a $1.9 million loss on early retirement of debt; equity compensation add-back of $9.3 million (pre-tax) in the adjusted figure

$1.6B
Miss −0.30%
Revenue · est. $1.7B
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%0+6%Sep 9Sep 10report 8:02am ETearnings−0.7%+9.7%
−6%0+6%Sep 9Sep 10earnings−0.7%+9.7%
ASO +9.7%S&P 500 −0.7%
−6%0+6%Sep 9Sep 10report 8:02am ETearnings−0.7%+9.7%
−6%0+6%Sep 9Sep 10earnings−0.7%+9.7%
ASO +9.7%NASDAQ −0.7%
−8%0+8%+16%Sep 8Sep 17report 8:02am ETearnings−0.3%+3.9%
−8%0+8%+16%Sep 8Sep 17earnings−0.3%+3.9%
ASO +3.9%S&P 500 −0.3%
−8%0+8%+16%Sep 8Sep 17report 8:02am ETearnings+0.1%+3.9%
−8%0+8%+16%Sep 8Sep 17earnings+0.1%+3.9%
ASO +3.9%NASDAQ +0.1%
+14.40%
Day of report
+5.99%
Next session
−1.43%
One week

Did ASO Beat Earnings? Q2 2027 Results

Academy Sports & Outdoors posted a stronger-than-expected second quarter for fiscal 2026, with adjusted diluted EPS of $2.31 beating the $2.08 consensus estimate by 10.82%, even as net sales of $1.65 billion came in fractionally below expectations, missing by 0.30% despite rising 3.0% year over year. The standout driver behind the earnings beat was a significant gross margin expansion of 440 basis points to 40.4% of sales, amplified by a net $5.30 million benefit from IEEPA tariff refunds that contributed roughly $0.06 to adjusted EPS after the company reinvested a portion into strategic pricing and customer experience initiatives. Three new store openings and a 12.8% surge in eCommerce sales helped offset a modest 0.40% comparable sales decline, while disciplined cost management kept operating income robust at $246.36 million. With UBS and other analysts flagging softness in discretionary spending as a near-term headwind, Academy's decision to raise its adjusted EPS guidance to $6.50 to $6.90 for fiscal 2026 signals management's confidence that its value-focused strategy and store expansion plan can sustain momentum through year-end.

Key Takeaways
  • Gross margin expansion of 440 bps to 40.4%, driven by IEEPA tariff refund recognition
  • eCommerce sales increase of 12.8%
  • New stores comping positive mid-single digits
  • 3 new store openings bringing total to 327 locations
  • Inventory per store down 5.6% in units and 2.3% in dollars
  • Share count reduction from aggressive buyback program

“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

Forward Guidance & Outlook

Academy affirmed its fiscal 2026 (year ending January 30, 2027) net sales guidance of $6.230B to $6.355B (sales growth of 3.0% to 5.0%) and comparable sales of flat to +2.0%. The company raised its adjusted EPS guidance to $6.50–$6.90 from the prior $6.40–$6.80 range. GAAP EPS guidance is $6.05–$6.45. Gross margin rate is expected at 35.5%–36.0%. Adjusted net income is guided at $420M–$445M, capital expenditures at $200M–$240M, and adjusted free cash flow at $300M–$350M. The outlook assumes a tax rate of approximately 22.0% and does not include potential future share repurchases. The company plans to open eleven stores during Q3 with remaining stores in Q4.

ASO YoY Financials

Q2 2027 vs Q2 2026 · SEC filings Q2 2026 Q2 2027
$0$500.0M$1.0B$1.5B$1.6B$1.6BRevenue$576.7M$665.9MGross Profit$172.4M$246.4MOperating Income$125.4M$137.9MNet Income
$0$500.0M$1.0B$1.5BRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.