Under Armour reports better-than-expected earnings, raises guidance

Under Armour Inc. UA, +3.31% UAA, +3.23% shares jumped 5.4% successful Tuesday premarket trading aft the diversion institution reported second-quarter net that acold exceeded expectations and raised its 2021 guidance. Net income totaled $59.2 million, oregon 13 cents per share, aft a nonaccomplishment of $182.9 million, oregon 40 cents per share, past year. Adjusted EPS of 24 cents blew past the FactSet statement for 6 cents. Revenue of $1.352 cardinal was up from $707.6 cardinal past twelvemonth and up of the FactSet statement for $1.218 billion. Under Armour is present guiding for gross maturation successful a low-20 percent complaint compared with erstwhile guidance for high-teens percent rate. EPS is expected to beryllium 14 cents to 16 cents up from erstwhile guidance for 2 cents to 4 cents. And adjusted EPS is expected to beryllium 50 cents to 52 cents, up from anterior guidance for a scope of 28 cents to 30 cents. The FactSet statement is for gross of $5.346 billion, implying 19.5% growth, and EPS of 35 cents. Under Armour shares person gained 23% for the twelvemonth to day portion the S&P 500 scale SPX, -0.18% is up 16.8% for the period.