Under Armour Inc (UAA) Reports In-line Q2 Revenue, Offers Outlook

Under Armour Inc (NYSE: UAA) reported Q2 EPS of ($0.04), may not compare to the analyst estimate of ($0.05). Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.2 billion.

GUIDANCE:

Under Armour Inc sees FY2019 EPS of $0.33-$0.34, may not compare versus the consensus of $0.35.

• Revenue is expected to be up approximately 3 to 4 percent reflecting a slight decline in North America and a low to mid-teen percentage rate increase in the international business.
• Revenue is expected to be up approximately 3 to 4 percent reflecting a slight decline in North America and a low to mid-teen percentage rate increase in the international business.
• Gross margin is expected to increase approximately 110 to 130 basis points compared to 2018. Excluding restructuring charges from the comparable prior period, we expect an increase of approximately 70 to 90 basis points compared to 2018 adjusted gross margin due to ongoing supply chain initiatives and channel mix benefits.
• Operating income is now expected to reach approximately $230 million to $235 million versus the previously expected range of $220 million to $230 million.
• Interest and other expense, net is now expected to be approximately $30 million versus the previous expectation of approximately $35 million.
• Effective tax rate is now expected to be approximately 22 percent versus the previous expectation at the high end of a 19 percent to 22 percent range.
• Earnings per share is expected to be $0.33 to $0.34 inclusive of a negative impact from the company's minority interest in its Japanese licensee.
• Capital expenditures are expected to be approximately $210 million.

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

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