Academy Sports & Outdoors (ASO) Q2 2025 Earnings
How Did ASO Stock React to Q2 2025 Earnings?
S&P 500 over the same 30 days: +4.52%.
Did ASO Beat Earnings? Q2 2025 Results
No. Academy Sports & Outdoors reported Q2 2025 earnings of $1.94 a share on Sep 2, 2025, missing the $2.13 consensus estimate by 9.1%. Revenue was $1.6B against a $1.6B estimate.
Academy Sports & Outdoors delivered a mixed second quarter for fiscal 2025, missing on both the top and bottom lines as rising costs overshadowed a modest sales recovery. Adjusted diluted EPS came in at $1.94, falling roughly 9.12% short of the $2.13 consensus estimate, while revenue of $1.60 billion grew 3.3% year-over-year but edged just below the $1.61 billion Wall Street expected. The shortfall on profitability was largely driven by SG&A expenses climbing to 25.3% of sales from 23.8% a year ago, compressing operating income to $172.38 million from $190.09 million. The quarter did carry a meaningful bright spot, however, as comparable sales turned positive for the first time since 2021, rising 0.2%, supported by 17.7% eCommerce growth and contributions from new store openings. Management cited broad tariff mitigation efforts, including vendor cost-sharing and inventory positioning, as underpinning confidence in an updated full-year adjusted EPS range of $5.60 to $6.30, with net sales now guided between $6.00 billion and $6.27 billion.
- First positive comparable sales quarter since 2021, comps up 0.2%
- eCommerce sales increased 17.7%
- New stores comping positive mid-single digits
- Customers gravitating to diversified assortment and value proposition
- Market share gains in first half of the year
- Jordan Brand launch in 145 stores and online in April
- Nike is the company's #1 brand by sales
“We were pleased to see sales inflect to a positive comp in the second quarter, driven by steady improvements in the business that are a result of the progress we continue to make against our strategic initiatives. Customers are gravitating to our diversified assortment and our value proposition is resonating with them, which has allowed us to pick up market share in the first half of the year.”
Academy Sports & Outdoors CEO, on the earnings call
What Was Academy Sports & Outdoors's Outlook in Q2 2025?
Academy narrowed the low end of its fiscal 2025 (ending January 31, 2026) guidance. Net sales guidance is now $6,000M–$6,265M (previously $5,970M–$6,265M). Comparable sales range is -3.0% to +1.0% (previously -4.0% to +1.0%). Gross margin rate guidance is unchanged at 34.0%–34.5%. GAAP net income guidance is $360M–$410M (previously $350M–$410M). Adjusted net income guidance is $380M–$430M (previously $375M–$435M). GAAP diluted EPS guidance is $5.30–$6.00 (previously $5.10–$5.90). Adjusted diluted EPS guidance is $5.60–$6.30 (previously $5.45–$6.25). Capital expenditures guidance is $180M–$220M. Adjusted free cash flow guidance is $250M–$320M. The company expects a tax rate of 23.5% for the year and plans to open 20–25 new stores in fiscal 2025. Management believes it has mostly offset the impact of current incremental tariffs for fiscal 2025.
ASO YoY Financials
| Metric | Q2 2025 | Q2 2024 | Year over year |
|---|---|---|---|
| Revenue | $1.6B | $1.5B | +3.3% |
| Gross Profit | $576.7M | $558.7M | +3.2% |
| Operating Income | $172.4M | $190.1M | −9.3% |
| Net Income | $125.4M | $142.6M | −12.0% |
Figures from SEC filings and company reports. Not investment advice.