Nike (NKE) has been a beast lately. Since launching its new Colin Kaepernick campaign in conjunction with the start of the 2018 NFL season earlier this month, the stock has added $6 billion in market cap, traded to new all-time highs, and now leads the Dow 30 in year-to-date performance. This weekend Nike got another boost when Tiger Woods — maybe the most well-known athlete in the world and forever linked with Nike — won his first PGA Tour event in five years. Seriously, the company is on a roll.
Nike (NKE) likely won’t be making any big sports news on Tuesday, but investors will get to see how good of a quarter the company had when it releases earnings results after the close tomorrow. Historically, Nike has been a beast on earnings as well.
Our Interactive Earnings Screener lets users pull up historical quarterly earnings results for any company dating all the way back to 2001. (Be sure to check out the Screener at some point if you have yet to do so.) Below is a snapshot of Nike’s quarterly results from our Screener dating back to June 2012.
Highlighted in yellow in the snapshot below is the difference between Nike’s actual EPS number and its consensus analyst EPS estimate. As shown, Nike (NKE) has beaten earnings estimates for 24 consecutive quarters (6 years) dating back to September 2012! The last time Nike missed earnings was in June 2012. Back then, Colin Kaepernick was one year into his NFL career as Alex Smith’s back-up in San Francisco. Later that year Kaepernick would go on to replace an injured Smith in week 10, sparking a QB controversy under Coach Jim Harbaugh that ultimately led to Kaepernick keeping the job and taking the 49ers to Super Bowl 47 where they lost to the Baltimore Ravens.
On June 28th, 2012 when Nike last missed EPS estimates, Tiger Woods was beginning play in the AT&T National at Congressional in Bethesda, MD — a tournament he would go on to win by 2 strokes ahead of Bo Van Pelt. It was Tiger’s 3rd and final PGA Tour win of 2012 after going win-less since 2009 when his affair allegations first broke.
While Nike has managed to beat EPS estimates for 24 consecutive quarters, the company has only beaten revenue estimates 15 out of its last 24 quarters. The revenue misses have not impacted stock performance in reaction to earnings by much, however. Over Nike’s last 24 earnings reports, the stock has averaged a one-day gain of 2.11% on its earnings reaction days with positive returns posted 58% of the time. Over the same time frame, we’ve seen more than 64,000 quarterly reports across the US stock market, and the average stock has gained 0.01% on its earnings reaction day.
All of the earnings stats quoted in this article come from our Interactive Earnings Screener, which is available for use as part of our Bespoke Institutional package. It’s truly an invaluable tool for investors. Start a two-week Bespoke Institutional free trial to try it out today.