Dick's Sporting Goods (DKS) Q1 2026 Earnings
GAAP EPS of $3.54 includes $174.5 million in litigation and other settlement income ($150.0 million from credit/debit card interchange fees, $24.5 million from landlord early lease termination), offset by $96.5 million in Foot Locker acquisition-related costs ($42.7 million inventory write-down, $53.8 million merger and integration costs). Non-GAAP EPS of $2.90 excludes these items.
How Did DKS Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: −1.26%.
Did DKS Beat Earnings? Q1 2026 Results
No. Dick's Sporting Goods reported Q1 2026 earnings of $2.90 a share on May 27, 2026, missing the $2.91 consensus estimate by 0.2%. Revenue was $5.2B against a $5.1B estimate.
Dick's Sporting Goods delivered a mixed but broadly constructive first quarter of fiscal 2026, beating revenue expectations while falling just short on the bottom line as the company absorbed the full weight of its transformative Foot Locker acquisition. Revenue surged 62.7% year over year to $5.16 billion, clearing the $5.07 billion consensus, but adjusted diluted EPS of $2.90 came in fractionally below the $2.91 estimate, weighed down by 9.6 million shares issued in the Foot Locker deal and a higher effective tax rate of 28.8%, up from 24.1% a year ago, driven by unfavorable earnings mix in foreign jurisdictions where losses carry no tax benefit. On the operational side, the core Dick's Business posted 6.0% comparable sales growth, while the Foot Locker segment returned to positive comps at 0.6% and generated $17.46 million in segment profit. Looking ahead, management raised the low end of comparable sales guidance for both segments and lifted the non-GAAP operating income range to $1.71 billion to $1.83 billion, keeping full-year adjusted EPS guidance intact at $13.50 to $14.50.
- DICK'S Business delivered 6.0% comparable sales growth with strength in average ticket and transactions
- Broad-based strength across footwear, apparel, and hardlines categories
- Foot Locker Business returned to positive comparable sales (+0.6%) and profitability
- Fast Break store remodel initiative delivering double-digit comps and merchandise margin improvement
- Continued market share gains in the DICK'S Business with multi-year comp stacking
“We're very proud of our company's Q1 results. Sport is driving sustained energy and engagement across the consumer landscape, and our team turned that athlete demand into another very strong quarter of execution. In Q1, we delivered comp sales growth of 6% in the DICK'S Business, with growth in average ticket and transactions, and broad-based strength across footwear, apparel, and hardlines. These strong comps were on top of a 4.5% increase last year and a 5.3% increase in 2024, as we continued to gain market share. Given our continued confidence in the DICK'S Business, we are raising our full-year expectations for comp sales growth and profitability.”
Dick's Sporting Goods CEO, on the earnings call
What Was Dick's Sporting Goods's Outlook in Q1 2026?
Full year 2026 consolidated guidance: Net sales of $22.1–$22.4 billion. GAAP operating income of $1.69–$1.81 billion; non-GAAP operating income of $1.71–$1.83 billion (raised from $1.68–$1.81 billion). GAAP EPS of $13.27–$14.27 (updated from $13.70–$14.70); non-GAAP EPS of $13.50–$14.50 (unchanged). Gross capital expenditures of approximately $1.6 billion ($1.4 billion net). DICK'S Business segment: net sales of $14.5–$14.7 billion, comp sales growth of 2.5%–4.0% (raised from 2.0%–4.0%), segment profit of $1.60–$1.68 billion (11.0%–11.4% margin). Foot Locker Business segment: net sales of $7.6–$7.7 billion, proforma comp sales growth of 1.5%–3.0% (raised from 1.0%–3.0%), segment profit of $110–$150 million (1.4%–1.9% margin). Effective tax rate of approximately 27%. Foot Locker acquisition-related charges expected to total $200 million in fiscal 2026, with remaining charges over the medium term from total expected pre-tax charges of $500–$750 million.
DKS YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $5.2B | $3.2B | +62.7% |
| Gross Profit | $1.7B | $1.2B | +44.5% |
| Operating Income | $450.7M | $366.1M | +23.1% |
| Net Income | $319.8M | $264.3M | +21.0% |
DKS Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.