Academy Sports Outperforms in Q2 with Raised Guidance Despite Flat Comps
On September 9, 2026, Academy Sports and Outdoors (NASDAQ:ASO) reported second-quarter results showing a 3.0% increase in net sales to $1.65 billion and adjusted earnings per share rising by 19.1% to $2.31. The company also raised its full-year guidance for both adjusted EPS and gross margin, citing strong e-commerce growth of 12.8%, a loyalty membership milestone exceeding 15 million members, and improved cash flow projections. Despite these positive results, the quarter was marked by a negative comp at -0.4% due to softer consumer demand and declining sales in certain categories like footwear (-1%). Analysts raised their price targets but remained cautious about long-term sustainability of growth without stronger core sales performance or margin expansion beyond one-time benefits such as tariff refunds. The stock currently trades with an 8.16 forward P/E ratio, while short interest remains high at 23.30% of float. Analysts generally acknowledge the strong earnings beat but emphasize that Academy must prove its ability to maintain performance in a more challenging market environment.
Tickers: $ASO