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.Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
