IMMEDIATE CALL POSTMORTEMS

The first take, while it still matters.

After earnings, most sell-side research takes a day or more to publish, and much of it repeats the press release. An Immediate Call Postmortem is our unfiltered first read: posted on X within minutes of the call ending, then archived here and on Substack. It’s free, it’s short, and it focuses on what actually changed. We only write one when a call gives us something worth saying, and a much more thoughtful Upon Further Review report tends to follow within 3–5 business days.

Why speed matters: read Confessions of a Sell-Side Analyst →

Matthew McClintock 6/9/26 Matthew McClintock 6/9/26

Academy Sports 1Q26 Immediate Call Postmortem

Bit surprised by the stock strength as quarter itself largely non-event on topline given updated guidance heading into the investor day awhile back – management stated quarter came in as expected.

Matthew McClintock 3/17/26 Matthew McClintock 3/17/26

Academy Sports 4Q25 Immediate Call Postmortem

January softer than anticipated due to winter stores with half store base shut down for 2-3 days. Business rebounded after they reopened.

Matthew McClintock 9/2/25 Matthew McClintock 9/2/25

Academy Sports 2Q25 Immediate Call Postmortem

Is this really the second quarter in a row where they miss earnings but increase the guidance range? Even that is kind of a mess as they lowered adjusted net income on the high end while raising adjusted EPS (likely due to share repurchases but still a lot of noise here).