Athletic apparel company Under Armour (NYSE:UAA)
will be announcing earnings results tomorrow before market hours. Here’s what you need to know.
Under Armour beat analysts’ revenue expectations by 3.9% last quarter, reporting revenues of $1.18 billion, down 10.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ earnings and EBITDA estimates.
Is Under Armour a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Under Armour’s revenue to decline 11.7% year on year to $1.38 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.19 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Under Armour has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.4% on average.
Read our full analysis of VF Corp’s results here and Kontoor Brands’s results here.
There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with share prices up 3.3% on average over the last month. Under Armour is up 4.7% during the same time and is heading into earnings with an average analyst price target of $14 (compared to the current share price of $8.89).
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