Academy Sports & Outdoors (ASO) Q1 2025 Earnings
How Did ASO Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +3.60%.
Did ASO Beat Earnings? Q1 2025 Results
No. Academy Sports & Outdoors reported Q1 2025 earnings of $0.76 a share on Jun 10, 2025, missing the $0.89 consensus estimate by 14.7%. Revenue was $1.4B against a $1.4B estimate.
Academy Sports & Outdoors delivered a disappointing first quarter of fiscal 2025, missing on both top and bottom lines as elevated costs weighed on profitability. Adjusted EPS came in at $0.76, falling 14.72% short of the $0.89 consensus estimate, while revenue of $1.35 billion trailed expectations by 1.51% and slipped 0.9% from a year ago. The primary culprit was a sharp rise in SG&A expenses to $389.60 million, or 28.8% of sales compared to 25.9% a year ago, largely tied to new store investment, which dragged operating income down to $69.27 million from $102.38 million. Comparable sales fell 3.7%, though management noted a positive comp in April as an encouraging sign of building momentum. On a brighter note, the company continued expanding its footprint, with new locations now pushing into additional states, and its Jordan Brand launch across 145 stores is reportedly tracking ahead of plan. Looking ahead, Academy widened its fiscal 2025 guidance to reflect tariff uncertainty, setting adjusted EPS in a range of $5.45 to $6.25 and net sales between $5.97 billion and $6.27 billion.
- Sequential monthly improvement in comps through Q1, achieving positive comp in April
- eCommerce sales increased 10.2%
- New stores continue to comp positive low single digits
- Gross margin expanded 60 basis points to 34.0%
- Strong traffic growth from higher income consumers
- Jordan Brand launch in 145 stores and expanded Nike assortment exceeding sales plans
“During the first quarter we saw continued progress across our strategic initiatives, including the opening of five new stores, and the biggest brand launch in the Company's history with the addition of the Jordan Brand.”
Academy Sports & Outdoors CEO, on the earnings call
What Was Academy Sports & Outdoors's Outlook in Q1 2025?
Academy widened its fiscal 2025 guidance to account for multiple tariff scenarios. Updated guidance: net sales of $5,970M–$6,265M (from $6,090M–$6,265M), comparable sales of -4.0% to +1.0% (from -2.0% to +1.0%), gross margin rate of 34.0%–34.5% (unchanged), GAAP net income of $350M–$410M (from $375M–$410M), adjusted net income of $375M–$435M (from $400M–$435M), GAAP diluted EPS of $5.10–$5.90 (from $5.40–$5.85), adjusted diluted EPS of $5.45–$6.25 (from $5.75–$6.20), capital expenditures of $180M–$220M (reduced from $220M–$250M), and adjusted free cash flow of $250M–$320M (from $290M–$320M). The high-end scenario assumes 10% reciprocal tariffs for all countries including China; the low-end assumes China stays at 145% with original reciprocal tariffs. EPS guidance excludes potential future share repurchases and assumes a 22.0%–23.0% tax rate. The company plans to open 20–25 new stores in fiscal 2025.
ASO YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $1.4B | $1.4B | −0.9% |
| Gross Profit | $458.9M | $426.9M | +7.5% |
| Operating Income | $69.3M | $102.4M | −32.4% |
| Net Income | $46.1M | $76.5M | −39.7% |
Figures from SEC filings and company reports. Not investment advice.