Mizuho Securities Raises Price Target as Strong Sales Drive 1Q EPS Beat at Under Armour (UA)

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Go back to Mizuho Securities Raises Price Target as Strong Sales Drive 1Q EPS Beat at Under Armour (UA)

Under Armour Reports First Quarter Net Revenues Growth Of 30%; Raises Full Year Net Revenues Outlook To $5.0 Billion

April 21, 2016 7:00 AM EDT

BALTIMORE, April 21, 2016 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UA.C) today announced financial results for the first quarter ended March 31, 2016.  Net revenues increased 30% in the first quarter of 2016 to $1.05 billion compared with net revenues of $805 million in the prior year's period.  On a currency neutral basis, net revenues increased 32% compared with the prior year's period.  Operating income increased 26% in the first quarter of 2016 to $35 million compared with $28 million in the prior year's period.  Net income increased 63% in the first quarter of 2016 to $19 million compared with $12 million in the prior year's period and diluted... More