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Q4 26 EPS
$0.35
BEAT +24.25%
Est. $0.28
Q4 26 Revenue
$11.28B
BEAT +0.44%
Est. $11.23B
vs S&P Since Q4 26
-32.5%
TRAILING MARKET
NKE -20.7% vs S&P +11.8%
Market Reaction
Did NKE Beat Earnings? Q4 2026 Results
Nike delivered a stronger-than-expected fiscal third quarter, posting diluted EPS of $0.35 against a consensus estimate of $0.28, a 25.00% beat that marks the fourth consecutive quarter the sportswear giant has cleared Wall Street's earnings bar. Rev… Read more Nike delivered a stronger-than-expected fiscal third quarter, posting diluted EPS of $0.35 against a consensus estimate of $0.28, a 25.00% beat that marks the fourth consecutive quarter the sportswear giant has cleared Wall Street's earnings bar. Revenue came in at $11.28 billion, essentially flat year-over-year at +0.1%, though the headline stability masked underlying pressure; on a currency-neutral basis, sales fell 3%, and net income dropped 35% to $520.00 million as gross margin contracted 130 basis points to 40.2%, hammered by higher tariffs in North America and a surge in the effective tax rate to 20.0% from just 5.9% a year ago. The quarter also reflected Nike's intentional strategic pivot, with wholesale revenues climbing 5% to $6.50 billion while Nike Direct slipped 4% to $4.50 billion, underscoring the company's deliberate rebalancing toward retail partners under its "Win Now" framework. Adding a note of conviction to the results, CEO Elliott Hill recently purchased shares on the open market, signaling personal confidence in the turnaround. CFO Matthew Friend cautioned that tariff headwinds and restructuring actions will continue weighing on results through the remainder of the calendar year.
Key Takeaways
- • North America wholesale growth driving overall revenue stability
- • Higher tariffs in North America compressing gross margins by 130 basis points
- • NIKE Direct declined 4% with Digital down 9% and owned stores down 5%
- • Effective tax rate increased to 20.0% from 5.9% due to prior-year one-time non-cash deferred tax benefit
- • Employee severance costs increased operating overhead
- • Converse revenues declined 35% across all territories
- • Greater China revenues declined 7% reported and 10% currency-neutral
- • Unfavorable foreign currency exchange rate impacts across segments
NKE Forward Guidance & Outlook
CFO Matthew Friend stated that 'Win Now' actions will continue to impact results over the balance of the calendar year, while expressing confidence in the company's ability to position for profitable growth long-term. Higher tariffs in North America are expected to remain a headwind affecting gross margins and product costs.
NKE YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
NKE Revenue by Segment
With YoY comparisons, source: SEC Filings
NKE Revenue by Geography
With YoY comparisons, source: SEC Filings
“This quarter we took meaningful actions to improve the health and quality of our business. The pace of progress is different across the portfolio and the areas we prioritized first continue to drive momentum.”
— Elliott Hill, Q4 2026 Earnings Press Release
NKE Earnings Trends
NKE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NKE EPS Trend
Earnings per share: estimate vs actual
NKE Revenue Trend
Quarterly revenue: estimate vs actual
NKE Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT | $0.28 | $0.35 | +24.25% | $11.28B | +0.44% |
| Q3 26 BEAT | $0.28 | $0.35 | +24.25% | $11.28B | +0.44% |
| Q2 26 BEAT | $0.37 | $0.53 | +41.90% | $12.43B | +1.79% |
| Q1 26 BEAT | $0.27 | $0.49 | +84.49% | $11.72B | +6.64% |
| Q4 25 BEAT FY | $0.12 | $0.14 | +13.45% | $11.10B | +3.48% |
| FY Full Year | $2.15 | $2.16 | +0.47% | $46.31B | +0.86% |
| Q3 25 BEAT | $0.28 | $0.54 | +94.88% | $11.27B | +2.13% |
| Q2 25 BEAT | $0.63 | $0.78 | +23.30% | $12.35B | +2.01% |