S&P 500
7,477.20
-0.78%
Dow Jones
52,189.30
-0.71%
Nasdaq 100
28,587.00
-1.49%
Russell 2000
2,951.83
-0.88%
FTSE 100
10,511.80
-0.60%
Nikkei 225
63,390.60
-3.82%
Nike

Nike (NKE) Q1 2027 Earnings

Reported Jun 30, 2026 at 4:15 PM ET · SEC Source

Q1 27 EPS

$0.72

BEAT +465.59%

Est. $0.13

Q1 27 Revenue

$10.97B

BEAT +1.09%

Est. $10.85B

vs S&P Since Q1 27

+6.6%

BEATING MARKET

NKE +7.2% vs S&P +0.7%

Market Reaction

Did NKE Beat Earnings? Q1 2027 Results

NIKE, Inc. Delivered a dramatic earnings beat in fiscal Q1 2027, posting diluted EPS of $0.72 against a consensus estimate of $0.13, a 465.59% beat that extended the company's streak of beating consensus EPS estimates to seven consecutive quarters. T… Read more NIKE, Inc. Delivered a dramatic earnings beat in fiscal Q1 2027, posting diluted EPS of $0.72 against a consensus estimate of $0.13, a 465.59% beat that extended the company's streak of beating consensus EPS estimates to seven consecutive quarters. The outsized profit figure was driven primarily by a $986 million one-time benefit tied to the expected recovery of IEEPA tariffs, following a U.S. Supreme Court ruling that those import levies were unauthorized, a windfall that added $0.52 to diluted EPS and lifted gross margin approximately 900 basis points to 49.2%. Revenue came in at $10.97 billion, edging past the $10.85 billion consensus by 1.09%, though the top line still slipped 1.1% year over year, underscoring the ongoing sales headwinds CEO Elliott Hill acknowledged as the company works through its marketplace repositioning. Wholesale revenues grew 4% to $6.60 billion, providing some offset to a 7% decline in NIKE Direct, while pre-earnings technical weakness in the stock had analysts watching closely for signs of a genuine operational turnaround beneath the tariff-driven profit boost.

Key Takeaways

  • • Expected recovery of $986 million in IEEPA tariffs boosted gross margin by approximately 900 basis points
  • • Wholesale revenues grew 4% on a reported basis driven by North America growth
  • • NIKE Direct revenues declined 7% with NIKE Brand Digital down 12% and NIKE-owned stores down 7%
  • • North America was the sole geographic growth driver, up 3%
  • • Greater China revenues declined 12% on reported basis and 17% currency-neutral
  • • Converse revenues declined 32% across all territories
  • • Selling and administrative expense decreased 2% reflecting lower demand creation spending
  • • Effective tax rate dropped to 19.6% from 33.6% due to stock-based compensation effects and prior year one-time items
24/7 Wall St

NKE YoY Financials

Q1 2027 vs Q1 2026, source: SEC Filings

24/7 Wall St

NKE Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 27
24/7 Wall St

NKE Revenue by Geography

With YoY comparisons, source: SEC Filings

Q2 25 Q1 27

“In fiscal 2026, we took decisive actions to strengthen the foundation of NIKE, Inc. and reposition our business for long-term growth. We made meaningful structural improvements to lay the groundwork for our Sport Offense across our team culture, innovative product, brand strength, and how we serve consumers in our countries and cities. While we continue to face top-line headwinds, we're encouraged by progress in performance product and are focused on consistent execution, improved profitability and scaling our wins to realize our full potential.”

— Elliott Hill, Q1 2027 Earnings Press Release

Back to NKE Stock Page