Thursday, October 6, 2022
HomeFinancialUnderneath Armour (UAA) experiences This autumn 2021 earnings beat

Underneath Armour (UAA) experiences This autumn 2021 earnings beat


Underneath Armour footwear are seen within a retailer on November 03, 2021 in Houston, Texas.

Brandon Bell | Getty Photos

Under Armour shares fell on Friday regardless of the retailer reporting fiscal fourth-quarter earnings and gross sales forward of analysts’ estimates, as a cloudy outlook hampered by lingering provide chain constraints overshadowed these outcomes.

The inventory was just lately down lower than 2% in premarket buying and selling.

“As we navigate ongoing uncertainty within the market, we stay targeted on delivering industry-leading improvements,” stated CEO Patrik Frisk, in a press launch.

Here is how the corporate did within the three-month interval ended Dec. 31 in contrast with what analysts had been anticipating, based mostly on Refinitiv estimates:

  • Earnings per share: 14 cents adjusted vs. 7 cents anticipated
  • Income: $1.53 billion vs. $1.47 billion anticipated

Underneath Armour reported internet earnings of $109.7 million, or 23 cents a share, in contrast with $184.5 million, or 40 cents a share, a yr earlier. Excluding one-time gadgets, it earned 14 cents a share, beating analysts’ estimates for 7 cents.

Income grew to $1.53 billion from $1.4 billion a yr earlier. That topped analysts’ expectations for $1.47 billion.

Web income in North America rose 15%, whereas worldwide gross sales had been up 3%.

Inside complete income, attire was up 18%, footwear grew 17%, nonetheless equipment tumbled 27%.

Final yr, Underneath Armour introduced it was altering its fiscal yr finish date from Dec. 31 to March 31. Following a three-month transition interval from Jan. 1, 2022 to March 31, Underneath Armour’s subsequent fiscal yr will run from April 1 to March 31, 2023.

The retailer on Friday gave an outlook for the transition quarter. Gross sales are anticipated to be up a mid-single-digit charge, in contrast with a previous outlook of a low-single-digit enhance. It stated, nonetheless, this forecast consists of about 10 share factors of headwinds tied to reductions in its spring and summer time order e-book from ongoing provide chain constraints.

Underneath Armour additionally narrowed the highest finish of a variety for its ongoing restructuring plan. It now expects to acknowledge $525 million to $550 million in fees associated to this plan, in contrast with a previous vary of $525 million to $575 million. Underneath Armour stated it has booked $514 million of pretax fees up to now.

Read the full earnings press release from Under Armour here.

This story is growing. Please test again for updates.



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments