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Call sheet · Q2'26

Academy Sports and Outdoors (ASO)

Q2'26 earnings call · held September 9, 2026 · compared with the Q1'26 call · management-credibility review
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Disclosure score
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Financial quality
Bottom line
Academy has credible growth initiatives and positive underlying cash generation, but weaker comparable transactions and refund-heavy margin expansion limit the operating read-through. The investable test is whether new-store maturation, loyalty and assortment improvements restore demand without further pricing sacrifice. Higher EPS guidance alone does not establish that outcome while annual profit guidance remains unchanged. [1][3][5]

What changed this quarter

MetricQ1'26Q2'26Change
RevenueQ2 FY2025: $1,599.8 millionQ2 FY2026: $1,647.3 millionUp 3.0%; comparable sales declined 0.4%. [3][5]
GAAP net income / diluted EPS$125.4 million / $1.85$137.9 million / $2.17Net income rose 9.9% using detailed tables; EPS rose 17.3% using reported per-share amounts. [3][5]
FY2026 guidanceGAAP EPS $5.95-$6.35; adjusted FCF $250-$300 millionGAAP EPS $6.05-$6.45; adjusted FCF $300-$350 millionEPS midpoint rises $0.10; FCF midpoint rises $50 million. Sales and net-income ranges remain unchanged. [3]

Accountability tracked

5 prior promises scored
Inside the full report
The complete write-up covers the full promise ledger with kept/missed calls, disclosure-quality scoring, the metrics-vanished check, verification items, and the questions to ask next quarter.
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Scores, kept-promise rates, and flags on this site reflect the author's opinion, applying a stated methodology to statements management made on public earnings calls. Informational and educational purposes only - not investment advice, a recommendation, or an offer to buy or sell any security. Sources believed reliable but not guaranteed; the author may hold positions in the securities discussed.

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