Academy Sports & Outdoors (ASO) Q4 2025 Earnings
How Did ASO Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: +5.87%.
Did ASO Beat Earnings? Q4 2025 Results
No. Academy Sports & Outdoors reported Q4 2025 earnings of $1.97 a share on Mar 17, 2026, missing the $2.05 consensus estimate by 4.0%. Revenue was $1.7B against a $1.8B estimate.
Academy Sports & Outdoors delivered a disappointing finish to fiscal 2025, missing on both top and bottom lines as fourth-quarter adjusted diluted EPS of $1.97 fell short of the $2.05 consensus estimate by 4.04%, while revenue of $1.72 billion trailed expectations by 2.05%, even as it rose 2.5% year over year. The key culprit was a sharp drop in other income, which fell to $3.18 million from $19.77 million a year earlier when a $15 million litigation settlement had padded results, effectively neutralizing an otherwise solid improvement in gross margin, which expanded 140 basis points to 33.6%. New store openings, 24 for the full year, drove the topline growth, but comparable sales declined 1.6%, though that marked an improvement from the prior year's 3.0% decline. Jefferies maintained a Buy rating on the stock while trimming its price target to $61, reflecting tempered near-term expectations. Looking ahead, management guided fiscal 2026 adjusted EPS of $6.10 to $6.60 on net sales of $6.18 billion to $6.36 billion, signaling confidence in a recovery driven by continued store expansion and e-commerce momentum.
- New store openings (24 in fiscal 2025, 5 in Q4) driving topline growth
- Gross margin expansion of 140 basis points in Q4 to 33.6%
- E-commerce segment grew 13.6% for full year
- In-stock optimization improved by 500 basis points via assortment rationalization and RFID rollout
- High-income households (>$100K) now largest and fastest growing customer segment
- Share count reduction from buybacks supporting EPS growth
“This past year marked an inflection point for Academy as we continued to gain market share and moved back to topline growth. During 2025, we put in place many foundational building blocks that helped drive sales and will continue to pay dividends in 2026 and beyond.”
Academy Sports & Outdoors CEO, on the earnings call
What Was Academy Sports & Outdoors's Outlook in Q4 2025?
For fiscal 2026 (year ending January 30, 2027), Academy guided net sales of $6,175M to $6,355M (2%-5% growth), comparable sales of -1.0% to +2.0%, gross margin rate of 34.5%-35.0%, GAAP net income of $380M-$415M, adjusted net income of $410M-$445M, GAAP diluted EPS of $5.65-$6.15, adjusted diluted EPS of $6.10-$6.60, capital expenditures of $200M-$240M, and adjusted free cash flow of $250M-$300M. Guidance assumes a 22.0%-23.0% tax rate and excludes potential future share repurchases (~$437M remaining on current authorization). The company plans to open 20-25 new stores. Management expects tailwinds from new store growth, omni-channel expansion, increased tax refunds, international sporting events, and America's 250th anniversary, while acknowledging persistent consumer financial pressure and tariff headwinds.
ASO YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $1.7B | $1.7B | +2.5% |
| Gross Profit | $576.6M | $540.2M | +6.7% |
| Operating Income | $170.1M | $154.7M | +10.0% |
| Net Income | $133.7M | $133.6M | +0.0% |
Figures from SEC filings and company reports. Not investment advice.