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Under Armour (UAA) Reports Q1 Earnings: What Key Metrics Have to Say
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Under Armour (UAA - Free Report) reported $1.32 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 2.4%. EPS of $0.02 for the same period compares to $0.03 a year ago.
The reported revenue represents a surprise of +1.45% over the Zacks Consensus Estimate of $1.3 billion. With the consensus EPS estimate being -$0.03, the EPS surprise was +166.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Under Armour performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net revenues- North America: $826.65 million compared to the $850 million average estimate based on six analysts. The reported number represents a change of -9.1% year over year.
Net revenues- Asia-Pacific: $202.23 million compared to the $196.33 million average estimate based on four analysts. The reported number represents a change of +14.5% year over year.
Net revenues- EMEA: $226.64 million versus the four-analyst average estimate of $213.13 million. The reported number represents a year-over-year change of +10.5%.
Net revenues- Latin America: $55.74 million versus $47.72 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.7% change.
Total net sales [$M]: $1.32 billion compared to the $1.28 billion average estimate based on five analysts. The reported number represents a change of +0.3% year over year.
Net revenues- Footwear: $363.67 million versus $366.61 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
Net revenues- Accessories: $97.86 million compared to the $84.65 million average estimate based on five analysts. The reported number represents a change of +1.1% year over year.
Net revenues- License revenues: $25.07 million versus $27.58 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -10.9% change.
Net revenues- Apparel: $824.66 million compared to the $829.87 million average estimate based on five analysts. The reported number represents a change of -5% year over year.
Net revenues- Corporate Other: $5.75 million compared to the $5.15 million average estimate based on three analysts. The reported number represents a change of -31.7% year over year.
Net Revenues- Distribution Channel- Wholesale: $741.96 million versus the two-analyst average estimate of $799.93 million. The reported number represents a year-over-year change of -6.3%.
Net Revenues- Distribution Channel- Direct to Consumer: $544.23 million versus $478.79 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
Shares of Under Armour have returned +2.8% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Under Armour (UAA) Reports Q1 Earnings: What Key Metrics Have to Say
Under Armour (UAA - Free Report) reported $1.32 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 2.4%. EPS of $0.02 for the same period compares to $0.03 a year ago.
The reported revenue represents a surprise of +1.45% over the Zacks Consensus Estimate of $1.3 billion. With the consensus EPS estimate being -$0.03, the EPS surprise was +166.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Under Armour performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net revenues- North America: $826.65 million compared to the $850 million average estimate based on six analysts. The reported number represents a change of -9.1% year over year.
- Net revenues- Asia-Pacific: $202.23 million compared to the $196.33 million average estimate based on four analysts. The reported number represents a change of +14.5% year over year.
- Net revenues- EMEA: $226.64 million versus the four-analyst average estimate of $213.13 million. The reported number represents a year-over-year change of +10.5%.
- Net revenues- Latin America: $55.74 million versus $47.72 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.7% change.
- Total net sales [$M]: $1.32 billion compared to the $1.28 billion average estimate based on five analysts. The reported number represents a change of +0.3% year over year.
- Net revenues- Footwear: $363.67 million versus $366.61 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
- Net revenues- Accessories: $97.86 million compared to the $84.65 million average estimate based on five analysts. The reported number represents a change of +1.1% year over year.
- Net revenues- License revenues: $25.07 million versus $27.58 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -10.9% change.
- Net revenues- Apparel: $824.66 million compared to the $829.87 million average estimate based on five analysts. The reported number represents a change of -5% year over year.
- Net revenues- Corporate Other: $5.75 million compared to the $5.15 million average estimate based on three analysts. The reported number represents a change of -31.7% year over year.
- Net Revenues- Distribution Channel- Wholesale: $741.96 million versus the two-analyst average estimate of $799.93 million. The reported number represents a year-over-year change of -6.3%.
- Net Revenues- Distribution Channel- Direct to Consumer: $544.23 million versus $478.79 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
View all Key Company Metrics for Under Armour here>>>Shares of Under Armour have returned +2.8% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.