Under Armour Inc. (NYSE: UAA) released its third-quarter financial results before the markets opened on Tuesday. The company said that it had a $0.26 in earnings per share (EPS) and $1.40 billion in revenue, while the consensus estimates had called for just $0.03 in EPS on $1.16 billion in revenue. In the same period of last year, the apparel maker said it had $0.23 in EPS and $1.43 billion in revenue.
In a separate release, the company announced that it has agreed to sell its MyFitnessPal platform to Francisco Partners. The transaction is valued at $345 million and is expected to close within the fourth quarter of this year.
Back to earnings: Revenue remained relatively flat year over year. The company posted a gross margin of 47.9%, driven by channel mix benefits and supply chain efficiencies.
For its segments, the company reported as follows:
- Apparel revenues decreased 5.9% year over year to $927.0 million.
- Footwear revenues increased by 19.2% to $298.7 million.
- Accessories revenues were 22.8% higher to $145.1 million.
Looking ahead to the 2020 full year, the company expects to see EPS in the range of $0.47 to $0.49 and revenues declining in a high-teen percentage rate compared to 2019 results. The analysts currently have consensus estimates of a net loss of $0.72 per share on and $3.91 billion in revenue for the year.
Under Armour stock traded up more than 9% early Friday to $15.05 a share. The 52-week trading range is $13.16 to $21.96, and the consensus price target was last seen at $11.46.
24/7 Wall St.The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.