Under Armour Inc. (NYSE: UAA) released its second-quarter financial results before the markets opened on Thursday. The company said that it had a net loss of $0.08 per share and $1.17 billion in revenue, which compares with consensus estimates from Thomson Reuters of a net loss of $0.08 per share and $1.15 billion in revenue.
In the same period of last year, the company said it had a per-share net loss of $0.03 and revenue of $1.09 billion.
In terms of its segments, the company reported as follows:
- Apparel revenues increased 9.8% year over year to $747.29 million.
- Footwear revenues increased 14.5% to $271.38 million.
- Accessories revenues decreased 13.6% to $105.91 million.
Looking ahead to the 2018 full year, the company expects to see EPS in the range of $0.14 to $0.18 and revenues to increase roughly 3% to 4%. The consensus estimates call for $0.18 in EPS and $5.17 billion in revenue for the year.
Kevin Plank, Under Armour board chair and chief executive, commented:
Through the first half of 2018, we are making progress toward our transformation of running a more operationally excellent company while amplifying the power of the Under Armour brand. The ongoing improvements in our structure, systems and go-to-market process across our global business better position us to drive a more consistent, predictable path to deliver for our consumers, customers and shareholders over the long-term.
Shares of Under Armour closed Wednesday at $21.08, with a consensus analyst price target of $17.65 and a 52-week trading range of $11.40 to $24.69. Following the announcement, the stock was up about 9% at $23.00 in early indications Thursday.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
