Companies /Consumer Cyclical

Academy Sports and Outdoors Inc

NASDAQ: ASO Specialty Retail
$42.63
▼ $0.92 (−2.11%) today
Markets closed · 2:37am ET

Q3 2026 Earnings

Reported Dec 9, 2025, 8:03am ET · SEC source
$1.14
Beat +7.49%
EPS · est. $1.06
$1.4B
Miss −1.61%
Revenue · est. $1.4B
+2.7%
Beating market
ASO vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
0+5%+10%+15%Dec 9Dec 10report 8:03am ETearnings+0.2%+15.0%
0+5%+10%+15%Dec 9Dec 10earnings+0.2%+15.0%
ASO +15.0%S&P 500 +0.2%
0+5%+10%+15%Dec 9Dec 10report 8:03am ETearnings+0.3%+15.0%
0+5%+10%+15%Dec 9Dec 10earnings+0.3%+15.0%
ASO +15.0%NASDAQ +0.3%
0+5%+10%+15%Dec 8Dec 17report 8:03am ETearnings−0.6%+9.4%
0+5%+10%+15%Dec 8Dec 17earnings−0.6%+9.4%
ASO +9.4%S&P 500 −0.6%
0+5%+10%+15%Dec 8Dec 17report 8:03am ETearnings−1.9%+9.4%
0+5%+10%+15%Dec 8Dec 17earnings−1.9%+9.4%
ASO +9.4%NASDAQ −1.9%
+8.64%
Day of report
+3.64%
Next session
+1.13%
One week
+4.48%
30 days

S&P 500 over the same 30 days: +1.77%.

Did ASO Beat Earnings? Q3 2026 Results

Academy Sports & Outdoors delivered a mixed but largely encouraging third quarter for fiscal 2025, beating profit expectations while falling just short on the top line. Adjusted diluted EPS of $1.14 cleared the $1.06 consensus estimate by 7.49%, driven by gross margin expansion of 170 basis points to 35.7% that reflected tighter promotional discipline and improved merchandising. Revenue of $1.38 billion grew 3.0% year-over-year but came in 1.61% below expectations, as new store openings carried growth while comparable sales dipped 0.9%, a marked improvement from the negative 4.9% comp recorded a year ago. The company's 317-store footprint, expanded by eleven new locations in the quarter, remains central to its growth thesis, with eCommerce sales climbing 22.2% adding further momentum. Sector-wide caution following disappointing results from a major athletic brand weighed on investor sentiment around the report, though Academy's own fundamentals showed clear stabilization. Looking ahead, management narrowed fiscal 2025 guidance, raising the net sales floor to $6.03 billion while adjusting adjusted diluted EPS to a range of $5.65 to $6.15.

Key Takeaways
  • eCommerce sales growth of 22.2%
  • New stores comping in the high single digits
  • Gross margin expansion of 170 basis points year-over-year to 35.7%
  • Value leadership positioning driving market share gains
  • Jordan Brand launch in 145 doors and expanded Nike assortment
  • Record Black Friday event

“We continue to see an acceleration in our underlying growth strategies, despite the uncertain economic backdrop the consumer is facing.”

Academy Sports & Outdoors CEO, on the earnings call

Forward Guidance & Outlook

Academy narrowed its fiscal 2025 guidance. Net sales are now expected in the range of $6,025M to $6,200M (previously $6,000M to $6,265M). Comparable sales guidance was narrowed to -2.0% to flat (from -3.0% to +1.0%). Gross margin rate guidance was raised at the low end to 34.3% (from 34.0%), with the high end unchanged at 34.5%. GAAP net income is expected between $365M and $400M. GAAP diluted EPS is guided at $5.35 to $5.85, and adjusted diluted EPS at $5.65 to $6.15. Capital expenditures are expected between $180M and $210M, and adjusted free cash flow between $250M and $300M. The expected tax rate for the year is 23.5%. The company plans to open 20-25 new stores in fiscal 2026.

ASO YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$400.0M$800.0M$1.2B$1.3B$1.4BRevenue$456.7M$493.4MGross Profit$91.5M$100.4MOperating Income$65.8M$71.6MNet Income
$0$400.0M$800.0M$1.2BRevenueGross ProfitOperating IncomeNet Income

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