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Feb. 10, 2021, 7:22 a.m. EST

Under Armour shares up 2.9% premarket as it swings to profit and revenue beats

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By Ciara Linnane

Under Armour Inc. shares /zigman2/quotes/204420722/composite UAA -5.23% rose 2.9% in premarket trade Wednesday, after the sporting goods retailer posted an unexpected profit and revenue that topped estimates. The Baltimore-based company said it had net income of $184.5 million, or 40 cents a share, in the quarter, after a loss of $15.3 million, or 3 cents a share, in the year-earlier period. Adjusted per-share earnings came to 12 cents a share, while the FactSet consensus was for a loss of 6 cents a share. Revenue fell to $1.404 billion from $1.441 billion, but was ahead of the $1.273 billion FactSet consensus. Apparel revenue fell 4% in the quarter to $931 million, while footwear revenue fell 7% to $241 million. Accessories revenue rose 32% to $145 million. The company booked restructuring and impairment charges of $52 million as it continue to overhaul its operations. Under Armour is now expecting 2021 revenue to climb at a high-single-digit percentage rate . It expects EPS to range from 18 cents to 20 cents and for adjusted EPS to range from 12 cents to 14 cents. The FactSet consensus is for EPS of 17 cents. Shares have gained 1.3% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.04% has gained 17%.

/zigman2/quotes/204420722/composite
US : U.S.: NYSE
$ 23.19
-1.28 -5.23%
Volume: 7.11M
May 10, 2021 4:05p
P/E Ratio
91.05
Dividend Yield
N/A
Market Cap
$10.15 billion
Rev. per Employee
$269,432
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/zigman2/quotes/210599714/realtime
US : S&P US
4,188.43
-44.17 -1.04%
Volume: 2.32B
May 10, 2021 5:40p
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