Under Armour Inc. UA, a leading designer, marketer, and distributor of authentic athletic footwear, apparel, and accessories for a wide variety of sports and fitness activities, released third-quarter 2015 results, wherein earnings of 45 cents a share came a penny ahead of the Zacks Consensus Estimate, and jumped 9.8% from the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2015 has remained unchanged over the last 30 days. Under Armour’s performance in the trailing four quarters (including the quarter under review) gives a positive picture, with an average surprise of 11.2%.
Revenues: Aided by continued strong performance of the Apparel, Footwear and Accessories categories, total revenue came in at $1,204.1 million, up 28.4% year over year and ahead of the Zacks Consensus Estimate of $1,173 million. On constant currency basis, revenues grew 31%.
Guidance: Given better visibility, Under Armour has raised its 2015 revenue and operating income forecasts. The company now projects net revenue of $3.91 billion, as against $3.84 billion projected earlier, reflecting a 27% growth from 2014. Operating income is expected to be $408 million, representing a 15% growth year over year. Earlier operating income was expected to be in the band of $405-$408 million.
Zacks Rank: Currently, Under Armour carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Under Armour’s shares are up nearly 2.3% 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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