Nike’s 2Q18 results preview
Oregon-based Nike (NKE) is slated to release its financial results for the second quarter of 2018 after the market closes on December 21, 2017.
Wall Street has projected an 18% fall in the company’s EPS (earnings per share) to $0.41 on total sales of $8.4 billion, a 2.6% rise YoY (year-over-year). In fiscal 1Q18, Nike outdid analysts’ earnings expectations but missed the top-line projections. In Parts 2 and 3 of this series, we’ll look at Nike’s recent financial performance and the expectations for the upcoming quarter.
Nike has had a solid stock performance over the last month and is among the better-performing retail athletic players this year. We’ll cover its stock performance in more detail in Part 7.
Nike is covered by 37 Wall Street analysts. While some of these analysts have turned positive on the company, others have cooled down. We’ll cover the most recent analyst actions in Parts 4, 5, and 6 of this series.
Founded in 1968, Nike is the world’s largest athletic footwear and apparel company. It has a vast global footprint and derives around 55% of its revenue from international markets. Footwear is its most significant product category, accounting for ~60% of its sales.
The company has a market capitalization of $105.3 billion as of December 14, 2017, and forms part of the S&P 500 Index and the 30-stock Dow Jones Industrial Average Index.