Under Armour (UA) Surges on Strong Q4 Results
Under Armour (NYSE: UA) is surging 13.7% in pre-open trade Thursday following stronger than expected fourth quarter results.
Under Armour reported Q4 EPS of $0.48, $0.02 better than the analyst estimate of $0.46. Revenue for the quarter came in at $1.17 billion versus the consensus estimate of $1.12 billion.
Apparel sales increased 22.2% to $864.8 million, above consensus estimates of $847 million, Sterne Agee CRT analyst Sam Poser noted.
Footwear sales increased 94.5% to $166.9 million, above consensus estimate of $136 million, Poser also highlighted.
Under Armour sees FY2016 revenue of $4.95 billion, versus the consensus of $4.90 billion. FY16 operating income guidance was increased to $503 million from $502 million. Analysts note the company has a history of providing conservative guidance.