Under Armour, Inc. (UA Quick QuoteUA - Free Report) reported third-quarter 2016 earnings of 29 cent a share that beat the Zacks Consensus Estimate of 25 cents, and surged 26% from 23 cents delivered in the year-ago quarter.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been stable over the last 30 days. Under Armour’s performance in the trailing four quarters (excluding the quarter under review) gives a positive picture, with an average surprise of 26%.

Revenues: Aided by continued strong performance of the Apparel, Footwear and Accessories categories and Connected Fitness, total net revenue came in at $1,471.6 million, up 22.2% year over year and came ahead of the Zacks Consensus Estimate of $1,453 million.

Guidance: Under Armour maintained 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.

Zacks Rank: Currently, Under Armour carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on Under Armour’s earnings report!

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