Nike (NKE) Slammed on Weak Q4, Future Orders
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Price: $65.23 -0.15%
Revenue Growth %: +6.9%
Financial Fact:
Income before income taxes: 858M
Today's EPS Names:
CSS, STV, GIGM, More
Revenue Growth %: +6.9%
Financial Fact:
Income before income taxes: 858M
Today's EPS Names:
CSS, STV, GIGM, More
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Shareholders of Nike (NYSE: NKE) have their running shoes on tonight following disappointing fourth quarter results and future orders.
Fourth quarter revenues rose 12 percent to a record $6.5 billion, which was in-line with the consensus of $6.51 billion.
Diluted earnings per share fell 6 percent to $1.17, which missed the consensus of $1.37.
NIKE Brand futures orders were up 7 percent, are up 12 percent excluding currency changes. This compares to the consensus of up 16 percent.
N. American futures orders were up 15 percent, versus the consensus of up 18 percent. Western Europe futures orders were down 2, versus the consensus of up 8 percent. Central and Eastern Europe futures orders were up 5 percent, versus the consensus of up 16 percent. China futures orders were up 5 percent, versus the consensus of up 14 percent. Japan futures orders were down 6 percent, versus the consensus of up 1 percent.
"Fiscal year 2012 demonstrated NIKE, Inc.'s greatest strength – innovation. We delivered an amazing number of game-changing products and services that drove record revenue growth," said Mark Parker, President and CEO, NIKE, Inc. "We also delivered solid profit growth for the year despite some headwinds in a challenging global economy, which will continue into the next year. That said, NIKE is well positioned and will remain aggressive, flexible and laser-focused on the high-growth opportunities. That's how we continue to deliver long-term profitable growth for our shareholders."
Shares of Nike are down 10 percent to $87.10 after-hours Thursday.
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Fourth quarter revenues rose 12 percent to a record $6.5 billion, which was in-line with the consensus of $6.51 billion.
Diluted earnings per share fell 6 percent to $1.17, which missed the consensus of $1.37.
NIKE Brand futures orders were up 7 percent, are up 12 percent excluding currency changes. This compares to the consensus of up 16 percent.
N. American futures orders were up 15 percent, versus the consensus of up 18 percent. Western Europe futures orders were down 2, versus the consensus of up 8 percent. Central and Eastern Europe futures orders were up 5 percent, versus the consensus of up 16 percent. China futures orders were up 5 percent, versus the consensus of up 14 percent. Japan futures orders were down 6 percent, versus the consensus of up 1 percent.
"Fiscal year 2012 demonstrated NIKE, Inc.'s greatest strength – innovation. We delivered an amazing number of game-changing products and services that drove record revenue growth," said Mark Parker, President and CEO, NIKE, Inc. "We also delivered solid profit growth for the year despite some headwinds in a challenging global economy, which will continue into the next year. That said, NIKE is well positioned and will remain aggressive, flexible and laser-focused on the high-growth opportunities. That's how we continue to deliver long-term profitable growth for our shareholders."
Shares of Nike are down 10 percent to $87.10 after-hours Thursday.
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