Companies and Brands
What to Expect When Nike Reports After the Close
Published:
Last Updated:
Nike Inc. (NYSE: NKE) is scheduled to release its fiscal second-quarter financial results after the markets close on Thursday. The consensus estimates call for $0.40 in earnings per share (EPS) and $8.4 billion in revenue. The same period of last year reportedly had EPS of $0.50 and $8.18 billion in revenue.
The fiscal first-quarter earnings were relatively weak, but Nike has recovered handily since then.
The company announced in mid-June that a new company alignment was created as a result of the Consumer Direct Offense, which simplified Nike Brand’s structure from six geographies to four, consisting of North America; Europe, Middle East & Africa (EMEA); Greater China; and Asia Pacific & Latin America (APLA).
This past quarter, Mark Parker, Nike’s board chair, president and CEO, commented on the new alignment:
This quarter, we captured near-term opportunities through our new Consumer Direct Offense. Looking ahead to the rest of fiscal 2018, we will ignite NIKE’s next horizon of global growth through the strength of our brand, the power of our innovative products and the most personal, digitally-connected experiences in our industry.
Also during this quarter, Nike said that its annual sales will reach over $50 billion within five years.
Excluding Thursday’s move, Nike had outperformed the broad markets, with its stock up 25% year to date. However, over the past six months the stock is only up about 21%.
A few analysts weighed in on Nike ahead of the report:
Shares of Nike traded up about 0.7% at $64.01 Thursday morning, with a consensus analyst price target of $62.28 and a 52-week range of $50.35 to $65.19.
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.