Academy Sports Lifts FY2026 EPS Outlook to $6.05–$6.45 After Q2 Beat
ASO sits 19% above its 52-week low of $41.29 on elevated volume (1.9× avg).
Summary
Academy Sports beat Q2 expectations with adjusted EPS of $2.31 (+19.1%) and raised full-year EPS guidance to $6.05–$6.45. Share repurchases accelerated to $182.1M in H1, up 82% YoY.
Key Events · Earnings and Guidance · ASO
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Q2 EPS Beat
Adjusted diluted EPS came in at $2.31, up 19.1% year-over-year and ahead of the prior-year $1.94. GAAP diluted EPS was $2.17, up 17.3%.
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FY2026 Guidance Raised
GAAP EPS guidance was raised to $6.05–$6.45 (from $5.95–$6.35); adjusted EPS was raised to $6.50–$6.90 (from $6.40–$6.80). Adjusted free cash flow was raised to $300M–$350M (from $250M–$300M).
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Accelerated Buybacks
Share repurchases totaled $182.1M in H1 FY2026, up 82.3% from $99.9M in the prior-year period. Diluted share count fell to 63.6M from 67.7M.
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Tariff Refund Benefit
Q2 included a net tariff refund impact of $5.3M ($0.06 per diluted share after tax), from an $83.7M gross IEEPA tariff refund, partially offset by $10.9M in strategic pricing investments.
Analysis · ASO · Trade & Services
Q2 results came in ahead of expectations, with adjusted EPS climbing 19.1% to $2.31 and net sales rising 3.0% to $1.65 billion. Management raised full-year EPS guidance by $0.10 at the midpoint to $6.05–$6.45, and lifted adjusted free cash flow guidance by $50 million at the midpoint. Share repurchases accelerated to $182.1 million in the first half, up 82% year-over-year. A one-time tariff refund benefit of $0.06 per share aided results, but the core operating performance—gross margin expansion of 440 basis points and double-digit EPS growth—was solid. At roughly 7.6x the midpoint of new EPS guidance, the stock may be pricing in continued consumer spending pressure despite the raised outlook.
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In the 30 days to Sep 10, 2026, 30.2% of the 2009 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.11%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, ASO was trading at $49.14 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $2.8B. The 52-week trading range was $41.29 to $62.45. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.