Dick's Sporting Goods (DKS) Q2 2026 Earnings
Non-GAAP EPS excludes $29.3M Foot Locker acquisition-related costs, $38.1M IEEPA tariff refunds attributable to prior-year costs plus $2.1M related interest income, $15.3M store operating model redesign charges, and $6.1M deferred compensation plan adjustments. GAAP EPS of $3.50 includes dilutive impact of 9.6M shares issued for Foot Locker acquisition.
How Did DKS Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +0.71%.
Did DKS Beat Earnings? Q2 2026 Results
No. Dick's Sporting Goods reported Q2 2026 earnings of $3.53 a share on Aug 25, 2026, missing the $3.76 consensus estimate by 6.2%. Revenue was $5.6B against a $5.6B estimate.
DICK'S Sporting Goods delivered a disappointing second quarter for fiscal 2026, missing on both the top and bottom lines as the integration of Foot Locker weighed heavily on margins and sentiment. Adjusted EPS came in at $3.53, falling 6.16% short of the $3.76 consensus estimate, while revenue of $5.59 billion trailed expectations by roughly 1.00%, even as the Foot Locker acquisition drove a 53.2% year-over-year revenue surge. The core story behind the shortfall was the Foot Locker segment itself, which posted a proforma comparable sales decline of 3.6% and an operating loss of $31.88 million, hurt by fewer-than-expected footwear launches and intensifying promotional pressure across the athletic footwear market. The trouble has since attracted securities fraud litigation alleging investors were misled about Foot Locker's inventory and integration prospects, adding legal uncertainty to an already complicated turnaround story. Management responded by cutting full-year guidance, now projecting adjusted EPS of $11.00 to $12.00 and forecasting the Foot Locker segment to post a loss of $40 million to $80 million for the full year.
- DICK'S Business delivered 4.9% comp sales growth driven by broad-based category growth, strong FIFA World Cup results, and growth in average ticket and transactions
- Foot Locker proforma comps declined 3.6% due to challenging athletic footwear marketplace, fewer launches, and underperformance of launch/retro product
- Increasingly promotional conditions in athletic footwear and apparel marketplace pressured margins
- Foot Locker Business segment posted operating loss of $31.9 million due to greater exposure to legacy footwear silhouettes
- Consolidated operating margin compressed 451 basis points to 7.9% reflecting Foot Locker integration
- Effective tax rate increased to 28.0% from 25.2% due to unfavorable mix of foreign earnings and purchase accounting adjustments
“We're proud of our second quarter performance in the DICK'S Business, where we delivered comp sales growth of 4.9% and gained market share despite growing pressure across portions of the athletic footwear and apparel marketplace. Our Q2 results reflect the strength of our athlete-focused strategy, broad differentiated assortment, strong brand partnerships and continued focus on profitable growth opportunities such as House of Sport, GameChanger and DICK'S Media Network. We invested significantly around the FIFA World Cup, and our team delivered outstanding results. While we are taking a more cautious view of the balance of the year, we remain highly confident in the strength of the DICK'S Business and our long-term opportunity at Foot Locker.”
Dick's Sporting Goods CEO, on the earnings call
What Is Dick's Sporting Goods's Outlook?
Full year 2026 consolidated outlook revised lower: Net sales of $21.9 billion to $22.2 billion; GAAP EPS of $10.94 to $11.94 and non-GAAP EPS of $11.00 to $12.00 on approximately 90 million diluted shares and ~29% effective tax rate. GAAP operating income of $1.45 billion to $1.55 billion ($1.46 billion to $1.56 billion non-GAAP). Gross capex approximately $1.6 billion ($1.4 billion net). DICK'S Business segment outlook: Net sales $14.5 billion to $14.7 billion, comp sales growth of 2.5% to 4.0%, segment profit $1.54 billion to $1.60 billion (10.6% to 10.9% margin), ~$1.2 billion gross capex (~$1.0 billion net). Foot Locker Business segment outlook: Net sales $7.4 billion to $7.5 billion, proforma comp sales of negative 2.0% to 0.0% (lowered), segment loss of $(80) million to $(40) million ((1.1%) to (0.5%) margin), ~$0.4 billion gross and net capex. Management took a more cautious view due to increasingly promotional conditions in athletic footwear and apparel, fewer-than-expected footwear launches, and underperformance of launch and retro product at Foot Locker.
DKS YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $5.6B | $3.6B | +53.2% |
| Gross Profit | $1.9B | $1.4B | +43.8% |
| Operating Income | $440.8M | $452.2M | −2.5% |
| Net Income | $315.5M | $381.4M | −17.3% |
DKS Revenue by Segment
When Does Dick's Sporting Goods Report Next?
Figures from SEC filings and company reports. Not investment advice.