Nike Slides After-Hours Despite Q4 Beat as Tariff Windfall Masks Operational Struggles
Nike's Q4 beat was fueled largely by a ~$986M one-time tariff refund — shares fell 4–7% AH despite topping estimates. Constellation Brands scored a clean Q1 FY2027 beat (EPS $3.43 vs. $3.21 est.) and rose ~3%. Tonight's split reaction: quality of earnings matters more than the headline.