Shoppers pass the Under Armor Store in White Plains, NY.
Scott Murin | CNBC
Under armor On Tuesday, first-quarter revenue and revenue exceeded expectations, and sports apparel makers raised their full-year revenue and profit outlook.
The stock soared by more than 3% in pre-market transactions.
Based on Refinitiv’s research, the company’s performance for the quarter ended March 31 was as follows, compared to what analysts expected.
- Earnings per share: Adjusted 16 cents vs. expected 3 cents
- Revenue: $ 1.26 billion vs. $ 1.13 billion forecast
Under Armor’s net earnings increased to $ 77.8 million (17 cents per share), compared to a loss of $ 589.7 million ($ 1.30 per share) in the year-ago quarter. Based on Refinitiv’s estimates, the company earned 16 cents per share, excluding one-off costs, more than analysts expected.
Revenue increased from $ 930.2 million in the previous year to $ 1.26 billion, surpassing the $ 1.13 billion estimate.
Under Armor said it expects full-year sales to grow at a high rate of 10 percent compared to the previous outlook for high-single-digit growth.
Adjusted earnings per share in 2021 are expected to be in the range of 28 to 30 cents, compared to the previous range of 12 to 14 cents.
CEO Patrik Frisk said the company is seeing strong demand for the brand as its business recovers in Asia and North America. In the same period last year, Under Armor’s business was hit, resulting in a drop of more than 20% in sales. Coronavirus pandemic The store was then forcibly closed and the turnaround plan was frozen.
On Monday, Under Armor said it had agreed to pay the Securities and Exchange Commission $ 9 million and settle. Accused of misleading investors From 2015 to 2016, it recorded sales of $ 408 million, which is expected to be completed in the upcoming quarter.
The retailer resolved the claim without accepting or denying the findings of the SEC’s order. Under Armor has also responded to requests for documents and information from the US Department of Justice, and said on Monday that it has not received requests from the DOJ since the second quarter of 2020.
This story is developing. Check for updates.
Under Armor (UAA) First Quarter 2021 Revenue
Source link Under Armor (UAA) First Quarter 2021 Revenue