Under Armour (UA) (UAA) Tops Q1 EPS by 13c

May 4, 2021 6:58 AM EDT

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Under Armour (NYSE: UA) (NYSE: UAA) reported Q1 EPS of $0.16, $0.13 better than the analyst estimate of $0.03. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.13 billion.

GUIDANCE:

Under Armour sees FY2021 EPS of $0.28-$0.30, versus the consensus of $0.20.

  • Revenue is now expected to be up at a high-teen percentage rate compared to the previous expectation of a high-single-digit percentage rate increase, reflecting a high-teen percentage growth rate in North America and low thirties percentage growth rate in the international business.
  • Gross margin is now expected to be up approximately 50 basis points compared to the previous expectation of 'up slightly,' versus the prior year adjusted gross margin of 48.6 percent with benefits from pricing and supply chain efficiency, being largely offset by the sale of MyFitnessPal, which carried a high gross margin rate.
  • Operating income is now expected to reach approximately $105 million to $115 million compared to the previous range of $5 million to $25 million. Excluding the impact of restructuring efforts, adjusted operating income is expected to reach $230 million to $240 million compared to the previous expectation of $130 million to $150 million.
  • Diluted loss per share is now expected to be about $0.02 to $0.04 compared to the previous expectation of a diluted loss per share of $0.18 to $0.20 and adjusted diluted earnings per share is expected to be in the range of $0.28 to $0.30 compared to the previous expectation of adjusted diluted earnings per share in the range of $0.12 to $0.14.

For earnings history and earnings-related data on Under Armour (UA) click here.



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