Nike Inc (NYSE:NKE) reported financial results for the first quarter of fiscal 2026 after the market close on Thursday. Here’s a look at the key details from the report.
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Q1 Highlights: Nike reported first-quarter revenue of $11.72 billion, beating analyst estimates of $11 billion, according to Benzinga Pro. The athletic footwear and apparel company reported first-quarter earnings of 49 cents per share, beating analyst estimates of 27 cents per share.
Total revenue was up 1% year-over-year in the first quarter. Nike Brand revenues totaled $11.4 billion, up 2% year-over-year, Nike Direct revenues were down 4% to $4.5 billion and Wholesale revenues were up 7% to $6.8 billion in the quarter. Here’s a breakdown of sales by region:
- North America: up 4%
- Greater China: down 9%
- Europe, Middle East & Africa: up 6%
- Asia Pacific and Latin America: up 2%
Inventories were $8.1 billion at the end of the first quarter, down 2% compared to the prior year. Nike ended the period with $8.6 billion in cash, cash equivalents and short-term investments.
“This quarter NIKE drove progress through our Win Now actions in our priority areas of North America, Wholesale and Running,” said Elliott Hill, president and CEO of Nike.
“While we’re getting wins under our belt, we still have work ahead to get all sports, geographies and channels on a similar path as we manage a dynamic operating environment.”
Nike returned $591 million to shareholders in the form of dividends and repurchased $123 million of its common stock in the first quarter.
Nike said it expects different aspects of its business to recover over different timelines. Nike is expected to provide forward-looking information and commentary on its outlook on its earnings call, which is scheduled to start at 5 p.m. ET.
NKE Price Action: Nike shares were up 1.89% in after-hours, trading at $71.05 at the time of publication on Tuesday, according to Benzinga Pro.
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