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.