Academy Sports And Outdoors, Inc. · NASDAQ:ASO
Academy Sports And Outdoors — Q2 2026 Earnings Presentation
23 slides from Academy Sports And Outdoors's earnings presentation, Sep 9, 2026
Slide 1: Q2 2026 Earnings
Q2 2026 EARNINGS SEPTEMBER 9, 2026 Academy Sports and Outdoors, Inc. (Nasdaq: ASO) |
Slide 2: Safe Harbor / Forward Looking Statements
SA FE H AR B OR / F OR WA R D LO O K IN G STAT EM E NT S Disclaimer This presentation has been prepared by Academy Sports and Outdoors, Inc. (the “Company,” “Academy” or “ASO”). This presentati on is provided for general informational purposes only and it does not purport to be complete. No represen
Slide 3: 85+ Years History of Success Providing Fun for All
YEAR HISTORY OF SUCCESS PROVIDING FUN FOR ALL 85+ P R E 2019 E A RL Y 202 0s T O DA Y LO NG RA NG E THE THE OUR BUSI NESS FOUNDATION IP O BUSI NESS GOALS 1 • Founded in 1938 in San Antonio, • Strengthened relationships with • Continued to invest in our TX leading national brands strategic initiative
Slide 4: Exceptional Track Record as a Public Company
EXCEPTIONAL TRACK RECORD AS A PUBLIC COMPANY Delivering Strong Results & Profitability Since Our IPO 1 4.6% 430bps +320% Gross Margin Total Shareholder Sales CAGR2 Improvement Return3 $800M+ 63 5 Cumulative New Stores New States Investments Opened Entered YEARS OF ~$1.8B ~40% ~$1.0B PERFORMANCE Cash
Slide 5: Our Strategic Priorities Remain Unchanged
OUR STRATE GIC PRIORITI ES REMAIN UNCHANGE D… GR OW T H P R I OR I T I E S …TO BRING MORE “FUN” 1 Grow New Stores 2 Drive Existing Business 3 Build More Powerful Omni-Channel FO UND A T I ONA L P RI O RI T I E S 4 Leverage Supply Chain Network 5 Execute With Best Team in Retail Q2 2026 | 5
Slide 6: New Stores Are Our Customer-Acquisition Engine
NEW S TORES ARE OUR CUSTOMER -ACQUIS ITI ON ENGINE Significant whitespace opportunity positions our team to strategically $1.1B expand our operational footprint as 10 800 + we continue to internally fuel growth… m 20 TOTAL SALES e fro From 63 New Stores Opened Since FY221 s + e ba tor urs o …po tent
Slide 7: Our Diverse + Evolving Assortment of Brands
OUR DI VE RS E + EVOLVI NG AS SORTMENT OF BRANDS HELP S US FUE L THE FUN FOR OUR CUS TOMERS SP ORTI NG GOODS HUNTING + FI SHI NG WORK + OUTDOOR OUTDOOR + WES TE RN ONE-STOP S HOP RECRE ATI ON LIFES TY LE 1 2 ng Best hi NATIONAL (78%)1 1 Fi s Better Good ear Best kw PRIVATE / EXCLUSIVE o r 2 W (22%)1
Slide 8: Capturing Customer Loyalty via Integrated Program
CAP TURING CUSTOME R LOYALTY VIA INT EGRATED PROGRAM COMPREHENSIVE LOYALTY PROGRAM PRIVATE LABEL CO-BRANDED BASE LOYALTY CREDIT CARD CREDIT CARD W E LCO M E O F FE R ✓ ✓ ✓ $ 15 O FF BIRTHDAY REWARD ✓ ✓ ✓ F RE E SHIPPING AT ACADEMY.COM ✓ $25 MINIMUM ✓ NO MINIMUM ✓ NO MINIMUM $ 25 MEMBER REWARD AFTER
Slide 9: Q2 FY 2026 Results
Q2 FY 2026 Results • Sales growth of 3.0% $1.6B (0.4)% Net Sales Sales Comp • Comp sales (0.4)% 3.0% year-over-year • Adjusted EPS growth of 19.1% • Opened 3 new stores 40.4%1 3 Gross Margin New Store Openings $2.172 $2.312* GAAP EPS Adjusted EPS + 17.3% v Q2 LY + 19.1% v Q2 LY 1) 440 bps net impact
Slide 10: Fiscal 2026 Guidance
Fiscal 2026 Guidance Q2 2026 | 10
Slide 11: Tariff Refund Reconciliation
Tariff Refund Reconciliation Q2 FY26 Recognized IEEPA Tariffs Refund Impact Metric $ impact (M) Bps Impact Q2 Tariff Refund $83.7 510bps Investments in strategic pricing (GM impact) ($10.9) Gross Margin Benefit from Tariffs $72.8 440 bps Payment to Third-Party ($72.2) Flows through Other Expense Rec
Slide 12: Disciplined Capital Allocation Philosophy
DISCIP LINED CAP ITAL ALLOCAT ION PHI LOS OPHY… Generate Strong Cash Flow from Operations …E Q UALS H IG H R ETU R N FI NA N CI AL GOV ER N AN C E Invest in Strategic Initiatives 20% FY25 Return on Invested Capital1 Remaining Free Cash Flow 0.2X FY25 Net Leverage Ratio2 Share Repurchase Steady Divid
Slide 13: Long Range Financial Outlook
LONG RANGE FI NANCIAL OUTLOOK OUR STRATEGIC LONG RANGE $8B+ PILLARS ARE ALIGNED GOALS1: Sales TO OUR CHALLENGING 125+ 15%+ LONG RANGE New Stores eCom Penetration GOALS Net Income Margin 7% $9 GAAP EPS DRIVE MORE LEVERAGE 1 GROW NEW STORES 2 EXISTING BUSINESS 3 POWERFUL OMNI-CHANNEL 4 SUPPLY CHAIN 5
Slide 14: Q2 2026 Financials
Q2 2026 FINANCIALS
Slide 15: Q2 2026 Financials: Statements of Income (Thirteen Weeks)
Academy: Net sales Cost of goods sold Gross margin Selling, general and administrative expenses Operating income Interest expense, net Loss on early retirement of debt Other expense (income), net Income before income taxes Income tax expense Net income Earnings Per Common Share: Basic Diluted Weight
Slide 16: Q2 2026 Financials: Statements of Income (Twenty-Six Weeks)
ACADEMY SPORTS AND OUTDOORS, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Amounts in thousands, except per share data) Twenty-Six Weeks Ended Percentage of Percentage of August 1, 2026 Sales August 2, 2025 Sales Net sales $ 3,089,288 100.0% $ 2,951,247 100.0 % Cost of goods sold 1,944,038 62.
Slide 17: Q2 2026 Financials: Consolidated Balance Sheets
Academy: ACADEMY SPORTS AND OUTDOORS, INC. ‘CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in thousands, except per share data) August 4,2026 January 24,2026 _August 2, 2025 ASSETS ‘CURRENT ASSETS: ‘Cash snd cash equivalents S$ 28213 5 330.920 $ 300.800 Accounts receivable - less allowance for dou
Slide 18: Q2 2026 Financials: Statements of Cash Flows
Academy: ACADEMY SPORTS AND OUTDOORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income Agjustmants to reconcile at income to net cash provided by operating sctiies: Depreciation and amortization Non-cash lease expense Equity compensat
Slide 19: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS • Adjusted Net Income, Adjusted Earnings per Common Share, Adjusted EBIT and Adjusted Free Cash Flow, have been presented in this presentation as supplemental measures of financial performance that are not required by, or presented in accordance with, generally accep
Slide 20: Adjusted EBIT Reconciliation
Academy: ACADEMY SPORTS AND OUTDOORS, INC. RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited) (Amounts in thousands) Adjusted EBIT We define “Adjusted EBIT" as net income (loss) before interest expense, net, income tax expense and other adjustments included in the table below. We des
Slide 21: Adjusted Net Income and Adjusted EPS
Academy: Adjusted Net Income and Adjusted Earnings Per Common Share We define “Adjusted Net Income” as net income (loss) plus other adjustments included in the table below, less the tax effect of these adjustments. We define "Adjusted Eamings per Common Share, Basic’ as Adjusted Net Income divided b
Slide 22: Adjusted Net Income and EPS Guidance Reconciliation
Academy: Adjusted Net Income and Adjusted Earnings Per Common Share, Diluted, Guidance Reconciliation (amounts in millions, except per share data) Low Range* Fiscal Year Ending January 31, 2027 High Range* Fiscal Year Ending January 31, 2027 Net Income $ 390 $ 415 Equity compensation (a) 30 30 Adjus
Slide 23: Adjusted Free Cash Flow
Academy: Adjusted Free Cash Flow We define “Adjusted Free Cash Flow’ as net cash provided by (used in) operating activities less net cash used in investing activities. We describe these adjustments reconciling net cash provided by operating activities to adjusted free cash fiow in the following tabl
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