Academy Sports and Outdoors Inc

Latest Results (17.05.2026):

Academy Sports and Outdoors, Inc. — fourth quarter of fiscal 2025 (thirteen weeks ended January 31, 2026): the company reported modest top-line growth for the quarter and full year while comparable-store sales remained negative. Q4 net sales rose 2.5% to $1,718.5 million and GAAP diluted EPS was $1.98 (up 4.8% year-over-year). For fiscal 2025 as a whole, net sales increased 2.0% to $6,053.4 million, while net income and adjusted metrics declined versus the prior year. Management raised the quarterly dividend, completed 24 store openings in 2025, and issued fiscal 2026 guidance targeting mid-single-digit sales growth and higher adjusted EPS.

Sales and Comparable Sales

Q4 net sales: $1,718.5M, +2.5% YoY; Q4 comparable sales: -1.6%. Fiscal 2025 net sales: $6,053.4M, +2.0% YoY; full-year comparable sales: -1.5%.

Profitability and EPS

Q4 net income: $133.7M (flat YoY); Q4 GAAP diluted EPS: $1.98, +4.8%; Q4 adjusted diluted EPS: $1.97, +0.5%. Fiscal 2025 net income: $376.8M, -9.9% YoY; fiscal 2025 GAAP diluted EPS: $5.54, -3.3%; adjusted diluted EPS: $5.78, -4.0%.

Margins and Operating Results

Q4 gross margin improved to 33.6% (from 32.2% prior year) and operating income was $170.1M (9.9% of sales). Fiscal 2025 gross margin was 34.8% (vs. 33.9% prior year); operating income for the year was $512.2M (8.5% of sales).

Balance Sheet and Liquidity

Cash and cash equivalents at January 31, 2026 were $330.3M (+14.3% YoY). Merchandise inventories rose to $1,503.8M (+14.9% YoY); inventory per store was up 6.3% in dollars and flat in units. Long-term debt remained roughly unchanged at ~$480.8M net.

Cash Flow and Capital Allocation

Net cash provided by operating activities for fiscal 2025 was $434.8M; adjusted free cash flow was $262.8M. Share repurchases totaled $200.8M (down 45.5% YoY); dividends paid were $34.7M (+10.2% YoY). Board declared a quarterly cash dividend of $0.15 per share (~15% increase) payable April 10, 2026. Approximately $437M of repurchase authorization remained at year end.

Stores and Expansion

Academy opened five stores in Q4 and 24 new stores in fiscal 2025 (ending the year with 322 stores). The company plans to open 20–25 new stores in fiscal 2026.

Fiscal 2026 Outlook

Guidance for fiscal 2026 (year ending January 30, 2027): net sales $6,175–$6,355M (2.0%–5.0% growth), comparable sales -1.0% to +2.0%; GAAP net income $380–$415M and GAAP diluted EPS $5.65–$6.15; adjusted net income $410–$445M and adjusted diluted EPS $6.10–$6.60. Capital expenditures are forecast at $200–$240M and adjusted free cash flow $250–$300M. Guidance assumes a 22%–23% tax rate and ~67.0M diluted shares outstanding.