Academy Sports Q2: EPS $2.17, gross margin jumps 440bps on tariff refunds; $500M refinancing completed
ASO sits 24% above its 52-week low of $41.29 on elevated volume (3.7× avg).
Summary
Academy Sports reported Q2 EPS of $2.17 with gross margin up 440bps on a one-time tariff refund, completed a $500M debt refinancing, and repurchased $182M of stock year-to-date.
Key Events · Earnings and Guidance · ASO
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Q2 EPS $2.17, net income up 9.9%
Net income rose to $137.9M from $125.4M a year ago, with diluted EPS of $2.17 vs $1.85. Net sales increased 3.0% to $1.65B.
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Gross margin expands 440bps on tariff refund
Gross margin reached 40.4% vs 36.0% last year, boosted by a one-time $83.7M IEEPA tariff refund recorded as a reduction to cost of goods sold.
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$500M senior notes refinancing completed
Issued $500M of 5.875% Senior Secured Notes due 2031, using proceeds to redeem the 2020 Notes and repay the Term Loan in full, extending maturities and lowering interest expense.
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$182.1M share repurchases year-to-date
Repurchased 3,311,559 shares at an average price of $54.51, with $256.1M remaining under the $700M authorization.
Analysis · ASO · Trade & Services
A one-time $83.7M IEEPA tariff refund drove gross margin up 440 basis points to 40.4%, helping Academy Sports deliver a strong Q2 with net income up 9.9% to $137.9M and diluted EPS of $2.17. The company also completed a $500M senior notes refinancing that extends debt maturities to 2031 and lowers interest costs, and repurchased $182.1M of stock year-to-date. While the headline numbers were already disclosed in this morning's 8-K, the 10-Q adds the full financial picture including cash flow strength ($349M operating cash flow) and the tariff refund mechanics.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 29.9% of the 1988 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ASO was trading at $51.03 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.2B. 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.