Under Armour (UA) Tops Q3 EPS by 2c; Guides Lower

Under Armour (NYSE: UA) (NYSE: UAA) reported Q3 EPS of $0.22, $0.02 better than the analyst estimate of $0.20. Revenue for the quarter fell 5% to $1.4 billion versus the consensus estimate of $1.48 billion.

GUIDANCE:

• Under Armour sees FY2017 EPS of $0.18-$0.20, versus the consensus of $0.35.
• Net revenue is expected to be up at a low single-digit percentage rate reflecting lower North American demand and operational challenges due to the implementation of the company\'s enterprise resource planning system and related service levels.
• Gross margin is expected to be down approximately 220 basis points compared to 46.4 percent in 2016 as benefits from product costs and channel mix are more than offset by increased efforts to manage inventory within a highly promotional environment, impacts from the restructuring plan and increasing regional mix. Adjusted gross margin is expected to be down approximately 190 basis points compared to 46.4 percent in 2016.

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

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