NYSE$NKE

NIKE · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Nike's first quarter results for fiscal year 2022 showed revenue growth and increased profitability.

NIKE, Inc. reported strong first-quarter results with revenues up 16% to $12.2 billion and diluted earnings per share up 22% to $1.16. The growth was driven by strong consumer connections, innovation, and digital advantage. NIKE Direct and NIKE Brand Digital sales also experienced significant growth.

  • First quarter reported revenues were $12.2 billion, up 16 percent compared to prior year and up 12 percent on a currency-neutral basis.
  • NIKE Direct sales were $4.7 billion, up 28 percent on a reported basis and up 25 percent on a currency-neutral basis.
  • NIKE Brand Digital sales increased 29 percent, or 25 percent on a currency-neutral basis.
  • Diluted earnings per share for the quarter was $1.16, up 22 percent.

Headline financials

Total Revenue

$12.2B

Previous: $10.6B+15.6%
EPS (adj)

$1.16

Previous: $0.95+22.1%
Gross Margin

46.5%

Previous: 44.8%+3.8%
Demand Creation Expense

$918M

Previous: $677M+35.6%
Operating Overhead Expense

$2.65B

Previous: $2.3B+15.5%
Effective Tax Rate

11.0%

Previous: 11.5%-4.3%
Capital Expenditures

-$184M

Previous: -$176M-4.5%
Free Cash Flow

$1.69B

Previous: $1.34B+25.9%
Net Income

$1.87B

Previous: $1.52B+23.5%
Operating Income

$2.12B

Previous: $1.77B+20.3%
Gross Profit

$5.7B

Previous: $4.74B+20.1%
Cash & Equivalents

$10.7B

Previous: $8.15B+31.6%
Total Assets

$37.9B

Previous: $33.3B+14.0%
Stock-Based Comp

$136M

Previous: $136M+0.0%

Revenue & EPS history

Nike · Revenue · Quarterly

$12.2B

Q1 2022+15.6%vs Q1 2021
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Nike · $12.2B total across 2 segments · Q1 2022

  • NIKE Brand
    $11.6B+15.8%
  • Converse
    $629M+11.7%

Forward guidance

NIKE is a growth company with a market opportunity as large as it's ever been. NIKE’s Consumer Direct Acceleration strategy continues to fuel growth and transform our long-term financial model.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+0.5%

Avg return

Earnings day

+0.0%

Avg return

5 days after

+1.3%

Avg return

30 days after

56%

40 / 72 earnings

Positive

+25.8%

Q3 2020

Best reaction

-19.9%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026
Q3 2026-6.0%-6.4%
Q2 2026-5.3%-8.6%-1.9%
Q1 2026+4.9%+2.1%-7.4%
Q4 2025+0.2%+2.8%+6.9%
Q3 2025-5.5%-8.5%-22.4%
Q2 2025+0.1%-0.1%-7.9%
Q1 2025-6.0%-7.0%-12.7%
Q4 2024-19.9%-19.2%-22.9%
Q3 2024-6.4%-7.7%-5.7%
Q2 2024-11.0%-11.0%-16.2%
Q1 2024+6.9%+6.3%+9.6%
Q4 2023-2.4%-3.5%-3.9%
Q3 2023-1.4%-0.4%+2.7%
Q2 2023+12.4%+12.8%+20.8%
Q1 2023-15.8%-10.2%-4.9%
Q4 2022-9.0%-10.4%-4.5%
Q3 2022+1.4%+1.9%+3.5%
Q2 2022+3.3%+2.7%-10.1%
Q1 2022-5.0%-7.7%+3.8%
Q4 2021+16.0%+17.2%+25.0%
Q3 2021-5.1%-5.3%-7.3%
Q2 2021+2.5%+0.9%+0.2%
Q1 2021+12.1%+9.6%+14.7%
Q4 2020-6.4%-2.0%-1.6%
Q3 2020+25.8%+32.5%+39.1%
Q2 2020-0.6%-0.4%+3.9%
Q1 2020+3.6%+5.3%+4.3%
Q4 2019+1.7%+2.9%+6.0%
Q3 2019-5.2%-3.8%+2.9%
Q2 2019+4.9%-1.3%+16.6%
Q1 2019-0.7%+0.5%-13.3%
Q4 2018+11.7%+6.9%+7.8%
Q3 2018-2.6%-0.3%-0.4%
Q2 2018-0.5%+0.1%+5.7%
Q1 2018-1.1%-2.6%+6.7%
Q4 2017+10.6%+9.9%+10.0%
Q3 2017-8.1%-4.0%-3.9%
Q2 2017+2.9%+2.1%+4.1%
Q1 2017-2.1%-3.2%-4.6%
Q4 2016+6.2%+7.2%+6.9%
Q3 2016-3.5%
Q2 2016-0.8%
Q1 2016+8.3%
Q4 2015+3.3%
Q3 2015+4.6%
Q2 2015+0.4%
Q1 2015+10.7%
Q4 2014+1.6%
Q3 2014-5.0%
Q2 2014-1.6%
Q1 2014+6.8%
Q4 2013+2.9%
Q3 2013+8.6%
Q2 2013+7.5%
Q1 2013-0.6%
Q4 2012-10.5%
Q3 2012-2.7%
Q2 2012+3.2%
Q1 2012+3.4%
Q2 2011-1.0%
Q4 2011-1.0%
Q3 2011+0.2%
Q1 2011-0.4%
Q4 2010+1.5%
Q3 2010+0.1%
Q3 2009+0.1%
Q2 2009+0.4%
Q2 2010+0.4%
Q1 2010+0.3%
Q4 2009+0.3%
Q4 2008+0.3%
Q1 2009+0.3%

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