LONDON, UK / ACCESSWIRE / January 12, 2018 / Active-Investors.com has just released a free earnings report on NIKE, Inc. (NYSE: NKE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=NKE. The Company posted its financial results on December 21, 2017, for the second quarter of the fiscal year 2018. The Company's revenue and EPS surpassed analysts' expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, NIKE most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the three months ended November 30, 2017, NIKE's revenues increased 5%, or 3% on a constant currency basis, to $8.55 billion from $8.18 billion in Q2 FY17. The increase was driven by international geographies and continued strength in NIKE Direct. The Company's revenue numbers surpassed analysts' expectations of $8.40 billion.
For the reported quarter, the Company's gross profit increased 2% to $3.68 billion from $3.62 billion in Q2 FY17. For the reported quarter, the Company's gross margin decreased 120 basis points to 43% of revenue from 44.2% of revenue in Q2 FY17.
During Q2 FY18, NIKE's earnings before tax (EBT) decreased 21% to $879 million from $1.11 billion in the same period of last year. For the reported quarter, the Company's EBT margin decreased 330 basis points to 10.3% of revenue from 13.6% of revenue in Q2 FY17.
For the reported quarter, NIKE's net income decreased 9% to $767 million from $842 million in Q2 FY17. During Q2 FY18, the Company's diluted earnings per share (EPS) decreased 8% to $0.46 from $0.50 in the comparable period of last year, due to a decline in gross margin and higher selling and administrative expenses. The diluted EPS surpassed analysts' expectations of $0.40.
Segment Details
North America - During Q2 FY18, the Company's North America segment's revenue decreased 5% to $3.49 billion from $3.65 billion in the corresponding period of last year. For the reported quarter, the segment's earnings before interest and taxes (EBIT) decreased 14% to $783 million from $912 million in Q2 FY17.
Europe, Middle-East & Africa - During Q2 FY18, the Company's Europe, Middle-East & Africa segment's revenue increased 19% to $2.13 billion from $1.79 billion in the same period of last year. For the reported quarter, the segment's EBIT increased 8% to $337 million from $313 million in Q2 FY17.
Greater China - During Q2 FY18, the Company's Greater China segment's revenue increased 16% to $1.22 billion from $1.06 billion in the comparable period of last year. For the reported quarter, the segment's EBIT increased 1% to $378 million from $375 million in Q2 FY17.
Asia Pacific & Latin America - During Q2 FY18, the Company's Asia Pacific & Latin America segment's revenue increased 6% to $1.27 billion from $1.21 billion in the same period of last year. For the reported quarter, the segment's EBIT increased 9% to $291 million from $266 million in Q2 FY17.
Balance Sheet
As on November 30, 2017, NIKE's cash and cash equivalents decreased 1% to $4.30 billion from $4.34 billion as on November 30, 2016. For the reported quarter, the Company's long-term debt was on par with the $3.47 billion recorded in Q2 FY17.
For the reported quarter, the Company's net accounts receivable increased 4% to $3.61 billion from $3.48 billion in Q2 FY17. For the reported quarter, NIKE's accounts payable increased 5% to $2.14 billion from $2.03 billion in Q2 FY17.
During Q2 FY18, the Company repurchased a total of 16.7 million shares for approximately $902 million.
Stock Performance Snapshot
January 11, 2018 - At Thursday's closing bell, NIKE's stock was marginally up 0.11%, ending the trading session at $64.29.
Volume traded for the day: 5.08 million shares.
Stock performance in the last month - up 3.84%; previous three-month period - up 25.98%; past twelve-month period - up 22.02%; and year-to-date - up 2.78%
After yesterday's close, NIKE's market cap was at $104.01 billion.
Price to Earnings (P/E) ratio was at 27.89.
The stock has a dividend yield of 1.24%.
The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry. This sector was up 0.5% at the end of the session.
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