Nike (NKE) Stock Drops Ahead of Q3 Earnings Report

Wall Street expects revenue of $11.2B and EPS of $0.28, down from $0.54 last year, as China demand remains in focus.

Mar. 30, 2026 at 2:22pm

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Nike is set to report its fiscal third-quarter results on March 31, with Wall Street forecasting revenue of $11.2 billion and earnings per share of $0.28 - a sharp drop from the $0.54 earned in the same period last year. The stock is trading near its 52-week low, down 25% over the past six months and 19% year-to-date, as investors await updates on China demand trends, margin outlook, and product innovation.

Why it matters

Nike's performance is closely watched as a bellwether for the broader consumer and retail sectors. Investors will be looking for signs of how the company is navigating macroeconomic headwinds, particularly in its crucial China market, as well as any insights into its long-term strategy and ability to drive growth.

The details

Options markets are pricing in a 9% move in either direction following Nike's earnings report, reflecting the high level of uncertainty. Goldman Sachs reiterated a Buy rating on the stock, saying current expectations already reflect near-term challenges, while other analysts have a more mixed outlook. Key areas of focus will include China demand trends, margin pressures, and management's commentary on product innovation and the company's 'Win Now' strategy.

  • Nike is set to report fiscal third-quarter results after the close on March 31, 2026.
  • The stock is trading just above its 52-week low of $51.20, down 25% over the past six months and 19% year-to-date.

The players

Nike, Inc.

A multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services.

Goldman Sachs

A leading global investment bank that provides a wide range of financial services to corporations, financial institutions, governments, and individuals.

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What they’re saying

“We believe current expectations already price in near-term headwinds and that management's 'Win Now' strategy is the right move toward building momentum into fiscal 2027.”

— Goldman Sachs, Analyst

“We're not expecting an 'all clear' report, but the noise around Nike's challenges is masking real forward progress. Nike is a top pick, with its 'historical trough-ish multiples' undervaluing the longer-term recovery story.”

— Brian Nagel, Analyst, Oppenheimer

What’s next

Investors will be closely watching Nike's earnings report on March 31 for insights into the company's performance, particularly in its crucial China market, as well as any updates on its long-term strategy and ability to drive growth.

The takeaway

Nike's upcoming earnings report will be a key indicator of the broader consumer and retail landscape, with investors focused on the company's ability to navigate macroeconomic headwinds and execute on its strategic initiatives. The stock's performance and management's commentary will be closely watched for signals on the health of the industry.