Under Armour (UA) Catches Bids on Stronger Q2 Footwear Sales; Improved Outlook
Tweet
Share
E-mail
Get Alerts UA Hot Sheet
Price: $6.66 +1.52%
Revenue Growth %: -5.0%
Financial Fact:
Selling, general and administrative expenses: 499.31M
Today's EPS Names:
SFST, VLTO, CLIR, More
Revenue Growth %: -5.0%
Financial Fact:
Selling, general and administrative expenses: 499.31M
Today's EPS Names:
SFST, VLTO, CLIR, More
Join SI Premium – FREE
Shares of Under Armour (NYSE: UA) are making a strong move Tuesday following second-quarter 2012 numbers which are inspiring investor confidence.
Revenue at the athletic shoe and sportswear maker rose 27 percent to $369.5 million, from $291.3 million in the same period last year. Consensus views calling for revs of $358.5 million.
Net income increased 6.8 percent to $6.67 million, or 6 cents per share. The Street was expecting slightly lighter profit of 5 cents per share.
Gross margin slipped 40 basis points to 45.9 percent.
Showing the largest growth was Footwear, which saw sales improve 43.8 percent to $67.43 million. Apparel sales rose 23.5 percent to $252.85 million.
Though the quarter produced some strong results, most of the positive sentiment can be traced to guidance. For fiscal 2012, Under Armour raised sales expectations by about $200 million to a range of $1.80 billion to $1.82 billion. The Street is currently looking for sales of $1.81 billion. Operating income is now expected to rise 26-27 percent, versus its prior view of 25-26 percent and its long-term target of 20-25 percent, to $205-$207 million.
Under Armour shares are up over 13 percent on gobs of volume.
Revenue at the athletic shoe and sportswear maker rose 27 percent to $369.5 million, from $291.3 million in the same period last year. Consensus views calling for revs of $358.5 million.
Net income increased 6.8 percent to $6.67 million, or 6 cents per share. The Street was expecting slightly lighter profit of 5 cents per share.
Gross margin slipped 40 basis points to 45.9 percent.
Showing the largest growth was Footwear, which saw sales improve 43.8 percent to $67.43 million. Apparel sales rose 23.5 percent to $252.85 million.
Though the quarter produced some strong results, most of the positive sentiment can be traced to guidance. For fiscal 2012, Under Armour raised sales expectations by about $200 million to a range of $1.80 billion to $1.82 billion. The Street is currently looking for sales of $1.81 billion. Operating income is now expected to rise 26-27 percent, versus its prior view of 25-26 percent and its long-term target of 20-25 percent, to $205-$207 million.
Under Armour shares are up over 13 percent on gobs of volume.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lockheed Martin (LMT) Tops Q1 EPS by 53c, Beats on Revenue; Offers FY24 Guidance
- Philip Morris (PM) beats Q1 earnings, revenue estimates; issues upbeat guidance
- Raytheon Technologies (RTX) Tops Q1 EPS by 11c; reaffirms outlook
Create E-mail Alert Related Categories
Earnings, Guidance, Hot EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
