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Under Armour (UA) Q2 Earnings Meet Estimates; Stock Down
Under Armour, Inc. (UA - Free Report) reported second-quarter 2016 earnings of 1 cent a share –including 3 cents as impairment charges related to the liquidation of Sports Authority – that came in line with the Zacks Consensus Estimate. However, quarterly earnings fell from 3 cents delivered in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has witnessed a downward revision over the last 60 days. Under Armour’s performance in the trailing four quarters (excluding the quarter under review) gives a positive picture, with an average surprise of 34.4%.
Revenues: Aided by continued strong performance of the Apparel, Footwear and Accessories categories, total revenue came in at $1,000.7 million, up 28% year over year but came in below the Zacks Consensus Estimate of $1,003 million.
Guidance: Under Armour repeated its 2016 guidance. The company expects net revenues for 2016 to be nearly $4.925 billion. This represents an increase of 24% over the 2015 level. Operating income is expected to be in the range of $440 million to $445 million, signifying growth of 8% to 9% over 2015.
UNDER ARMOUR-A Price and EPS Surprise
UNDER ARMOUR-A Price and EPS Surprise | UNDER ARMOUR-A Quote
Zacks Rank: Currently, Under Armour carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
Stock Movement: Under Armour’s shares are down nearly 1.4% during pre-market trading hours following the earnings release.
Check back later for our full write up on Under Armour’s earnings report!
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