(Updated - November 2, 2021 6:58 AM EDT)

Under Armour (NYSE: UA) reported Q3 EPS of $0.31, $0.16 better than the analyst estimate of $0.15. Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.48 billion.

GUIDANCE:

Under Armour sees FY2021 EPS of $0.74, versus the consensus of $0.55.

• Revenue is expected to be up approximately 25 percent compared to the previous expectation of a low-twenties percentage increase, reflecting a high-twenties percentage growth rate in North America and a mid-thirties percentage growth rate in the international business.
• Gross margin is expected to increase approximately 130 basis points compared to the previous expectation of an approximate 50 to 70 basis point improvement versus the prior year adjusted gross margin of 48.6 percent with expected benefits from pricing and changes in foreign currency partially offset by the sale of the MyFitnessPal platform and expected higher freight expenses.
• Operating income is expected to reach approximately $425 million compared to the previous range of $215 million to $225 million. Excluding the impact of restructuring efforts, adjusted operating income is expected to reach approximately $475 million compared to the previous expectation of $340 million to $350 million.
• Diluted earnings per share is expected to reach approximately $0.55 compared to the previous expectation of diluted earnings per share of $0.14 to $0.16. Adjusted diluted earnings per share is expected to reach approximately $0.74 compared to the previously expected range of $0.50 to $0.52 per share.

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