Nike Shares Plummet After Mixed Q1 Results and Weaker Sales Outlook

Nike Inc. (NYSE:NKE) shares fell by 5.49% on Friday to $33.22, reaching a new 52-week low, according to Benzinga Pro data.

The company reported mixed first-quarter results, missing the estimated revenue of $11.33 billion with $11.21 billion, but beating the adjusted earnings estimate of 44 cents per share at 48 cents.

Looking ahead to fiscal 2027, Nike expects a high-single-digit percentage decline in revenue and forecasted adjusted earnings of $1.15 to $1.35 per share, below the analyst estimate of $1.69.

Analysts like Bank of America Securities' Lorraine Hutchinson cut their estimates by 21% for fiscal 2027 and 22% for fiscal 2028, citing limited visibility into a sales recovery and continued downside risk to Nike's premium valuation.