Nike Inc (NYSE:NKE) is on track to report a year-over-year drop in earnings but higher revenue when it releases its fourth quarter fiscal 2023 results after the market close on Thursday, June 29.
The Street expects the athletic apparel company to report earnings per share of $0.66 on revenue of $12.57 billion for the quarter, per Zacks Consensus Estimate.
In the year-ago quarter, Nike posted earnings per share of $0.90 on revenue of $12.2 billion.
For the 12 months ended May 31, 2023, analysts, on average, expect earnings per share of $3.24 on revenue of $50.96 billion.
This would represent growth on both the top and bottom lines over fiscal 2022 when Nike reported earnings per share of $3.75 on revenue of $46.7 billion.
Investors will also be eyeing the company’s inventory levels, which have been a key concern over recent quarters but showed a marked quarter-over-quarter improvement in 3Q fiscal 2023.
Ahead of its earnings report, Nike shares were trading at US$113.55.
Contact the author at emily.jarvie@proactiveinvestors.com
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