NYSE$NKE
NIKE · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Nike's Q2 2024 results demonstrated a return to focusing on innovation and growth, with strong execution and a turning point in driving more profitable growth.
NIKE, Inc. reported a 1% increase in revenues to $13.4 billion for the second quarter of fiscal year 2024. Diluted earnings per share increased by 21% to $1.03, and the gross margin improved by 170 basis points to 44.6%. The company is also initiating an enterprise initiative to accelerate future growth and efficiency, expecting up to $2 billion in cumulative cost savings over the next three years.
- Second quarter revenues increased 1% to $13.4 billion.
- NIKE Direct revenues were up 6%, while NIKE Brand Digital sales increased 4%.
- Gross margin improved by 170 basis points to 44.6%.
- Diluted earnings per share increased 21% to $1.03.
Headline financials
Revenue & EPS history
Nike · Revenue · Quarterly
$13.4B
Revenue by segment
Nike · $13.4B total across 2 segments · Q2 2024
- NIKE Brand$12.9B+1.2%96.1%
- Converse$519M-11.4%3.9%
Forward guidance
NIKE is embarking on a company-wide journey to invest in areas of greatest potential, increase the pace of innovation, and accelerate agility and responsiveness, with revised guidance to be provided on the conference call.
Tailwinds
- Focusing on innovation and growth.
- Driving more profitable growth.
- Identifying opportunities to deliver up to $2 billion in cumulative cost savings over the next three years.
- Investing a majority of cost savings to fuel future growth and accelerate innovation.
- Streamlining the organization to increase efficiency.
Headwinds
- Softer second-half revenue outlook.
- Expected pre-tax restructuring charges of approximately $400 million to $450 million in the third quarter of fiscal year 2024.
- Potential risks and uncertainties related to achieving the expected benefits of the enterprise initiative.
- Possible delays in implementing the initiative or potential disruptions to NIKE’s business or operations.
- Unfavorable changes in net foreign currency exchange rates and higher product input costs.
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 Q2 2024
+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
| Quarter | Report date | Reaction (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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