Nike Q1 Earnings Preview: Analysts Forecast 43¢ EPS and $11.32B Revenue Amid Market Headwinds

Nike is expected to report fiscal first-quarter earnings after the bell Thursday as the retailer struggles to maintain relevancy and sales growth under CEO Elliott Hill.

Following a prior indication from former CFO Matt Friend that sales for the first two quarters of fiscal 2027 would be “flattish,” particularly given a slowdown in China, Nike now expects a modest positive gross margin for the quarter compared with the year‑ago period. David Denton, a former Pfizer executive who assumed the CFO role in August, is overseeing the financial execution.

According to an analyst survey compiled by LSEG, the consensus expectations for Nike’s latest quarter are:

• Earnings per share: 43 cents per share
• Revenue: $11.32 billion

Recent performance highlights the challenges: North America, Nike’s largest market, generated $4.83 billion in revenue last quarter, falling short of StreetAccount’s estimate of $4.88 billion. In China, sales declined 12 % year‑over‑year, prompting Hill to reaffirm the company’s “full commitment” to regaining market share there.

For fiscal 2027, analysts project total revenue near $45.31 billion, with the second quarter expected to reach approximately $11.79 billion. A notable upside came from a nearly $986 million tariff refund that contributed 52 cents per share to the previous quarter’s earnings.

Nike’s turnaround plan remains focused on selective improvements across its business segments, though consumers face added pressure from geopolitical tensions and inflation‑driven spending constraints. Bank of America recently downgraded the stock to “underperform,” citing heightened risks amid a sluggish footwear market, disappointing China results, and continued stock declines that have erased more than 40 % of the share price year‑to‑date.

The company will host a conference call with analysts at 5 p.m. ET to discuss the quarterly results and outlook.

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