Nike shares fell 9% after-hours after the company issued disappointing quarterly guidance, indicating that its turnaround is taking longer than expected. Total revenue in the fiscal 2026 third quarter was flat year over year at $11.28 billion, exceeding Wall Street expectations of about $10.24 billion. The company's earnings per share (EPS) fell 35% from the year-ago period to 35 cents, beating the consensus of 29 cents. The 9% drop in shares sent Nike shares to its lowest levels since 2015. Despite outperforming both revenue and gross margin guidance in the reported quarter, Nike's stock ended regular trading on a 17% year to date and underperformed the S & P 500's 4.6% decline over the same period. Despite this, the company plans to hold an investor day in the fall to provide a more comprehensive and long-term view of the business. However, the firm's CEO, Elliott Hill, remains confident in the direction the business is headed and expects to have finished its 'Win Now' actions by the end of the calendar year.