Under Armour Inc (NYSE: UAA) reported Q2 EPS of ($0.31), $0.10 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $708 million versus the consensus estimate of $543.8 million.

COVID-19 Update

Due to ongoing uncertainty related to COVID-19 and its potential effect on global markets, the company continues to anticipate material impacts on its business results for the remainder of 2020. The following provides additional information on channels and the company's cash and liquidity position.

Channel Status and Trends

• Through mid-May, the company estimated that approximately 80 percent of locations where the brand could be purchased globally were closed. As of today, with most of these doors having reopened, traffic trends continue to be considerably lower than the prior year period, however, the overall rate of conversion is higher. The company expects traffic trends to remain lower for the remainder of 2020.
• Additionally, the company experienced significant eCommerce growth around the world during the quarter.
• Cash and Liquidity
• The company ended the second quarter with Cash and Cash Equivalents of $1.1 billion.
• During the quarter, the company amended its credit agreement, in order to provide improved access to liquidity during this period. Under the amended $1.1 billion revolving credit facility, there was $250 million outstanding at the end of the second quarter.
• Additionally, the company issued $500 million of convertible senior notes, utilizing $440 million of the net proceeds to reduce the amount outstanding under its revolving credit facility.

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