Under Armour (UA) Tops Q3 EPS by 4c; Reaffirms FY16 Outlook
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Under Armour (NYSE: UA) reported Q3 EPS of $0.29, $0.04 better than the analyst estimate of $0.25. Revenue for the quarter came in at $1.47 billion versus the consensus estimate of $1.46 billion.
Gross margin for the third quarter of 2016 was 47.5% compared with 48.8% in the prior year's period, primarily reflecting negative impacts from the timing of liquidation, increased promotions, and foreign exchange rates, partially offset by continued product cost margin improvements.
Based on current visibility, the Company continues to expect 2016 net revenues of approximately $4.925 billion, representing growth of 24% over 2015, and 2016 operating income of $440 million to $445 million, representing growth of 8% to 9% over 2015. Below the operating line, the Company expects interest expense of approximately $30 million, an effective full year tax rate of approximately 35.5%, and fully diluted weighted average shares outstanding of approximately 446 million.
For earnings history and earnings-related data on Under Armour (UA) click here.
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