Academy Sports And Outdoors, Inc. · NASDAQ:ASO
Academy Sports And Outdoors — Q1 2026 Earnings Presentation
20 slides from Academy Sports And Outdoors's earnings presentation, Jun 9, 2026
Slide 1: Q1 2026 Earnings
| Q1 2026 EARNINGS JUNE 9, 2026 Academy Sports and Outdoors, Inc. (Nasdaq: ASO) Exhibit 99.2
Slide 2: Disclaimer
| 2Q1 2026 Disclaimer This presentation has been prepared by Academy Sports and Outdoors, Inc. (the “Company,” “Academy” or “ASO”). This presentation is provided for general informational purposes only and it does not purport to be complete. No representation or warranty, express or implied, is made
Slide 3: Year History of Success Providing Fun for All
| 3Q1 2026 YEAR HISTORY OF SUCCESS PROVIDING FUN FOR ALL PRE 2019 THE FOUNDATION • Founded in 1938 in San Antonio, TX • Family-owned tire store pivoted to sports + outdoors • 125+ chain across Texas and Southeast by 2010 • Acquired by KKR in 2011 • Total of 259 stores by 2019 and achieved $4.8B tota
Slide 4: Exceptional Track Record as a Public Company
| Note(1): From IPO in October 2020, to end of FY25 Note(2): As of January 31, 2026 Note(3): Sales CAGR since FY2019 Note(4): Includes $1.7B of share repurchases and $0.1B of dividends Q1 2026 4 EXCEPTIONAL TRACK RECORD AS A PUBLIC COMPANY YEARS OF PERFORMANCE SINCE IPO Delivering Strong Results & P
Slide 5: Our Strategic Priorities Remain Unchanged
|Q1 2026 5 Grow New Stores Drive Existing Business Build More Powerful Omni-Channel Leverage Supply Chain Network Execute With Best Team in Retail 1 2 3 4 5 OUR STRATEGIC PRIORITIES REMAIN UNCHANGED… …TO BRING MORE “FUN”GROWTH PRIORITIES FOUNDATIONAL PRIORITIES
Slide 6: Significant Whitespace Opportunity for New Stores
| 125 209 259 322 ~450 2010 2015 2020 2025 LRP TARGET WHITESPACE LEGACY MARKETS EXISTING MARKETS NEW MARKETS 5 800+ …potentially ~6x our store base fro m 2010 Q1 2026 6 $1.1B TOTAL SALES From 63 New Stores Opened Since FY221 Significant whitespace opportunity positions our team to strategically expa
Slide 7: Diverse and Evolving Assortment of Brands
Q1 2026 I 7 OUR DIVERSE + EVOLVING ASSORTMENT OF BRANDS HELPS US FUEL THE FUN FOR OUR CUSTOMERS SPORTING GOODS HUNTING + FISHING WORK + OUTDOOR RECREATION OUTDOOR + WESTERN LIFESTYLE N A T IO N A L ( 78 % )1 1 2 P R IV A T E / E X C L U S IV E (2 2% )1 Illustrative Value Ladder Good Better Best Work
Slide 8: Capturing Customer Loyalty via Integrated Program
| BASE LOYALTY PRIVATE LABEL CREDIT CARD CO-BRANDED CREDIT CARD ✓ ✓ ✓ BIRTHDAY REWARD ✓ ✓ ✓ SHIPPING AT ACADEMY.COM ✓ ✓ ✓ MEMBER REWARD AFTER $500 ANNUAL SPEND AT ACADEMY ✓ ✓ ✓ FIRST PURCHASE OF $30.01 AT ACADEMY — ✓ ✓ EVERY PURCHASE AT ACADEMY — ✓ ✓ ON ALL PURCHASES OUTSIDE ACADEMY — — ✓ REWARD AFT
Slide 9: Q1 FY 2026 Results
|Q1 2026 9 SIMPLIFY MY SHOP RESPECT MY TIME STRETCH MY DOLLAR FUEL THE FUN $1.44B Net Sales 6.7% year-over-year 2.9% Comp Sales 33.2% Gross Margin 2 New Store Openings $0.80 GAAP EPS + 17.6% v Q1 LY $0.93* Adjusted EPS + 22.4% v Q1 LY Q1 FY 2026 Results Source: The Company’s Q1 FY 2026 Earnings Rele
Slide 10: Fiscal 2026 Guidance
|Q1 2026 10 SIMPLIFY MY SHOP RESPECT MY TIME STRETCH MY DOLLAR FUEL THE FUN FISCAL 2026 GUIDANCE
Slide 11: Disciplined Capital Allocation Philosophy
|Q1 2026 Note(1):ROIC is defined as Adjusted EBITDA before lease expense less income tax expense divided by average invested capital on a trailing thirteen-month basis, inclusive of year-end total lease liabilities. This is a non-GAAP measure, see appendix for reconciliation of non-GAAP measures Not
Slide 12: Long Range Financial Outlook
|Note(1): These goals are aspirational or otherwise forward-looking statements and actual performance may differ, possibly materially, and no guarantees are made that these goals will be met. See slide 2 for additional important information about forward-looking statements. Q1 2026 12 LONG RANGE FIN
Slide 13: Financials
Q1 2026 FINANCIALS This presentation has been downloaded and shared with Nasdaq. Please do not make any updates
Slide 14: Consolidated Statements of Income
ACADEMY SPORTS AND OUTDOORS, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Amounts in thousands, except per share data) Thirteen Weeks Ended Percentage of Percentage of May 2, 2026 Sales “) May 3, 2025 Sales Net sales $ 1,442,003 100.0% $ 1,351,409 100.0 % Cost of goods sold 962,655 66.8 % 892
Slide 15: Consolidated Balance Sheets
[ACADEMY SPORTS AND OUTDOORS, INC. ‘CONSOLIDATED BALANCE SHEETS. (Unaudited) (Amounts in thousands, except per share data) May 2, 2026 January 31,2026. May 3, 2025, ‘ASSETS ‘CURRENT ASSETS: ‘Cash and cash equtvalonts Swag s 3303205 285,108 Accounis receivable less allowance for doubt ‘accounts of $1
Slide 16: Consolidated Statements of Cash Flows
Academy ACADEMY SPORTS AND OUTDOORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Amounts in thousands) (CASH FLOWS FROM OPERATING ACTIVITIES: ‘Natincome ‘Adjusiments i reconéle ne income tenet cash provided by operating betes: ‘Depreciation and amortization ‘Non:cash lease expense Equity
Slide 17: Non-GAAP Financial Measures Notes
| 17Q1 2026 Financials • 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 accepted accoun
Slide 18: Reconciliations of GAAP to Non-GAAP Financial Measures
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 describe the
Slide 19: Adjusted Net Income and Adjusted Earnings Per Common Share
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 by the bas
Slide 20: Guidance Reconciliation and Adjusted Free Cash Flow
cademy Adjusted Net Income and Adjusted Earnings Per Common Share, Diluted, Guidance Reconciliation (amounts in millions, except per share data) Low Range* High Range* Fiscal Year Ending _ Fiscal Year Ending January 31, 2027 January 31, 2027 Net Income $s 390 $ 415 Equity compensation (a) 30 30 ‘Adj
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