Under Armour (UA) Tops Q1 EPS by 2c; Raises FY16 Outlook
Under Armour (NYSE: UA) reported Q1 EPS of $0.04, $0.02 better than the analyst estimate of $0.02. Revenue for the quarter came in at $1.05 billion versus the consensus estimate of $1.02 billion.
Kevin Plank, Chairman and CEO of Under Armour, Inc., stated, "For the past 24 consecutive quarters or six years, we have driven net revenue growth above 20% and we are incredibly proud of our start to 2016 with first quarter net revenue growth of 30%. The strong results posted this quarter truly demonstrate the balanced growth of our brand across product categories, channels and geographies. It also showcases our heightened focus on providing better service across our distribution channels, ensuring that our consumer consistently finds the newest, most premium product from us wherever they shop. In footwear, this includes the remarkable success of the Stephen Curry signature basketball line, as well as the exciting launches of our first smart running shoe and our new line of Jordan Spieth inspired golf shoes. Combined with the introductions of premium apparel technologies like Microthread and CoolSwitch, we will continue to drive elevated innovation and excitement to the athlete throughout the remainder of 2016."
GUIDANCE:
Under Armour raises FY2016 revenue to $5.00 billion, versus the consensus of $4.96 billion. The company also raised 2016 operating income outlook to a range of $503 - $507 Million (up 23 - 24 vs. the prior year, respectively).
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