Athletic apparel brand Nike (NYSE: NKE) will be announcing earnings results this Thursday after market hours. Here’s what to expect.
Nike beat analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $11.27 billion, down 9.3% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Nike a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Nike’s revenue to decline 15% year on year to $10.72 billion, a further deceleration from the 1.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nike has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Nike’s peers in the consumer discretionary segment, only Carnival has reported results so far. It beat analysts’ revenue estimates by 1.7%, delivering year-on-year sales growth of 9.5%.
Read our full analysis of Carnival’s earnings results here.Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Nike is down 2.3% during the same time.
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