Nike's turnaround is running behind schedule. Will it top 45 cents a share when it reports first-quarter results Oct 1?

Nike reported fiscal first-quarter 2027 results on Oct. 1, posting diluted earnings per share of 48 cents, above the 45-cent threshold in question. Revenue came in at $11.2 billion, down 4% from a year earlier, while gross margin expanded 60 basis points to 42.8%, helped by lower freight costs and tighter inventory discipline even as sales continued to soften in North America and China. The beat came despite Nike's own guidance for full-year adjusted EPS of $1.15 to $1.35 and a forecast for high-single-digit revenue declines in fiscal 2027, signaling management still expects a bumpy turnaround ahead. Cost-cutting and marketing efficiencies, part of CEO Elliott Hill's ongoing restructuring push, offset continued top-line weakness to deliver the earnings beat.

Only 33% of Predict Six forecasters had predicted Nike would clear 45 cents a share, making the majority wrong on this one; sentiment had turned pessimistic after several quarters of disappointing results tied to tariff costs and inventory gluts. The result offered a modest sign that Nike's cost discipline is gaining traction even as its sales recovery remains incomplete.