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Nike (NKE) Fiscal 2Q18 Results: Beats Consensus Estimates and Maintains Guidance

Executive Summary

  • Nike reported 2Q18 adjusted EPS of $0.46, beating the consensus estimate of $0.40. Revenues increased by 5% year over year to $8,554 million from $8,180 million in the year-ago period, beating the consensus estimate of $8,390 million.
  • Revenues for the Nike brand were $8,136 million billion in the second quarter, up 4% on a constant-currency basis, driven by international sales and growth in the sportswear and Nike basketball categories.
  • The company provided revenue guidance in line with that provided in 1Q, expecting 3Q revenue growth to be in the low single-digit range and full-year revenue growth in the mid single digits.

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