Under Armor shoes are seen inside a store on November 03, 2021 in Houston, Texas.
Brandon Bell | Getty Images
Under Armor on Friday reported fiscal fourth-quarter profits and sales ahead of analysts’ estimates, fueled by year-over-year growth in North America.
Its shares whipsawed in premarket trading, recently falling less than 1% after rising 7%.
Here’s how the company did in the three-month period ended Dec. 31 compared with what analysts were anticipating, based on Refinitiv estimates:
- Earnings per share: 14 cents adjusted vs. 7 cents expected
- Revenue: $ 1.53 billion vs. $ 1.47 billion expected
Under Armor reported net income of $ 109.7 million, or 23 cents a share, compared to $ 184.5 million, or 40 cents a share, a year earlier. Excluding one-time items, it earned 14 cents a share, beating analysts’ estimates for 7 cents.
Revenue grew to $ 1.53 billion from $ 1.4 billion a year earlier. That topped analysts’ expectations for $ 1.47 billion.
Net revenue in North America rose 15%, while international sales were up 3%.
Last year, Under Armor announced it was changing its fiscal year end date from Dec. 31 to March 31. Following a three-month transition period from Jan. 1, 2022 to March 31, Under Armor’s next fiscal year will run from April 1 to March 31, 2023.
The retailer on Friday gave an outlook for the transition quarter. Sales are expected to be up a mid-single-digit rate, compared to a prior outlook of a low-single-digit increase. It said this forecast includes about 10 percentage points of headwinds tied to reductions in its spring and summer order book from ongoing supply chain constraints.
Read the full earnings press release from Under Armor here.
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