Q4 26 EPS
$0.35
Q4 26 Revenue
$11.28B
BEAT +0.44%
Est. $11.23B
vs S&P Since Q4 26
-23.8%
TRAILING MARKET
NKE -13.8% vs S&P +10.0%
Market Reaction
Did NKE Beat Earnings? Q4 2026 Results
NIKE, Inc. Delivered a notable earnings beat in Q4 26, posting diluted EPS of $0.35 against a consensus estimate of $0.28, a 24.25% positive surprise that marked the company's fourth consecutive quarter of beating EPS expectations, even as net income… Read more NIKE, Inc. Delivered a notable earnings beat in Q4 26, posting diluted EPS of $0.35 against a consensus estimate of $0.28, a 24.25% positive surprise that marked the company's fourth consecutive quarter of beating EPS expectations, even as net income fell 35% to $520.00 million year over year due to a normalized tax rate of 20.0% versus an unusually low 5.9% in the prior period. Revenue came in at $11.28 billion, edging past the $11.23 billion consensus by 0.44% and essentially flat year over year at +0.1%, though down 3% on a currency-neutral basis. The headline numbers masked significant internal crosscurrents; gross margin contracted 130 basis points to 40.2%, pressured heavily by tariff-driven cost increases in North America, even as wholesale revenues rose 5% to $6.50 billion while NIKE Direct slipped 4% to $4.50 billion. With trade analysts closely watching competitive positioning in the athletic footwear space, CEO Elliott Hill's 'Win Now' initiative remains the central narrative, and management signaled that restructuring actions will continue through year-end while expressing confidence in long-term profitable growth.
Key Takeaways
- • North America wholesale growth drove overall revenue stability
- • Higher tariffs in North America compressed gross margin by 130 basis points
- • Normalized effective tax rate of 20.0% vs prior year 5.9% significantly reduced net income
- • NIKE Direct digital revenues declined 9%, reflecting deliberate marketplace health actions
- • Employee severance costs increased operating overhead
- • Greater China revenues declined 10% on a currency-neutral basis
- • Converse revenues declined 35% with EBIT turning negative
NKE Forward Guidance & Outlook
Management indicated that 'Win Now' restructuring 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 long-term growth. CFO Matthew Friend stated that teams continue to execute with discipline.
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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 | — | $0.35 | — | $11.28B | +0.44% |
| Q3 26 | — | — | — | — | — |
| 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 | +16.67% | $11.10B | +3.69% |
| 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% |