What factors drove the changes in Academy's revenue and profit?

What is the revenue and EPS growth rate for Academy year over year?

What is Academy's latest dividend and current dividend yield?

What guidance did Academy's management provide for the next earnings period?

What does Academy do and what are its main business segments?

Did Academy beat or miss consensus estimates last quarter?

What were the key takeaways from Academy’s earnings call?

What were the key takeaways from Academy's earnings call?

- **Revenue Momentum**: Q2 sales up 3.3% YoY, e-commerce +18%, with new stores and tech initiatives driving mid-single-digit comps. 
- **Tariff Mitigation**: AURs rising to offset costs, with 40bp merch margin expansion. 
- **Customer Shift**: Higher-income cohorts (+10%+ traffic) offsetting lower-income declines, with myAcademy Rewards program adding 12M members. 
- **Strategic Investments**: $80M in inventory, new stores, and tech, with updated guidance reflecting improved execution. 
- **Back Half Outlook**: Tighter comp range (-3% to +1%) reflects confidence in initiatives and tariff mitigation. 


**【CEO Summary Section】**
- **Revenue Growth**: Q2 net sales of $1.6 billion, up 3.3% YoY, with a 0.2% comp. E-commerce grew 18%, driving 120 basis points in penetration. 
- **Store Expansion**: Opened 3 new stores in Q2, bringing total to 306. New stores (2022-2023 vintages) improved from low to mid-single-digit comps. 
- **Technology Initiatives**: Rolled out RFID scanners and handheld devices, improving in-stock rates by 400-500 basis points. 
- **Tariff Mitigation**: Partnered with vendors to absorb costs, shifted sourcing, and optimized pricing. AURs up low to mid-single digits, with plans to adjust prices in the back half. 
- **Customer Cohorts**: Top 2 income quintiles (>$100k) saw double-digit traffic growth, while lower-income cohorts declined at a slower rate. 
- **Brand Expansion**: Added Jordan, Converse, and HydroJug, with Nike and Jordan driving double-digit sales growth. 

**【CFO Financial Commentary】**
- **Gross Margin**: 36.0% (flat YoY), with 40bp merch margin expansion offset by 20bp shrink and 10bp e-commerce costs. 
- **SG&A**: 25.3% of sales, up 150bp YoY due to new stores, tech investments, and depreciation. 
- **Inventory**: Units per store up 4.6%, with $301M cash and strong liquidity. 
- **Guidance Update**: Tightened comp range to -3% to +1% YoY, up from -4% to +1%. 
- **Free Cash Flow**: $21.7M in Q2, with $530M remaining on share buyback authorization. 

**【Q&A Highlights】**
- **Consumer Behavior**: Higher-income cohorts driving growth, with traffic up double digits in top quintiles. Middle-income flat, lower-income declining slower. 
- **Tariff Impact**: AURs expected to rise high single to low double digits in back half. Inelastic demand for front-end items, mixed impact on big-ticket categories. 
- **Inventory Management**: RFID improved accuracy by 20%, reducing out-of-stocks. 
- **New Stores**: Year 1 EBITDA $12-16M, with mid-single-digit comps in subsequent years. 
- **Ammo Business**: Challenged by supply, but bulk packs driving higher AURs. 
- **Sourcing**: 6-7% private label COGS exposure, diversifying to mitigate tariffs. 
- **Loyalty Program**: 12M+ members, with 500k new enrollments Q2, driving frequency and spend. 


Academy Sports and Outdoors (ASO)-2 Sep 25-2026 Q2 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ASO

ASO fundamentals

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