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Under Armour (UAA) Tumbles 28% on Q4 Earnings & Sales Miss
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Under Armour Inc. (UAA - Free Report) , a leading designer, marketer, and distributor of authentic athletic footwear, apparel, and accessories for a wide variety of sports and fitness activities, released fourth-quarter 2016 results, wherein earnings of 23 cents a share came lagged the Zacks Consensus Estimate of 25 cents and fell 4.2% from 24 cents a share earned in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been stable in the last 30 days. Further, Under Armour’s performance in the trailing four quarters (including the quarter under review) gives a positive picture, with an average beat of 27%.
Revenues: Under Armour generated net sales of $1,308.1 million that increased 11.7% year over year but lagged the Zacks Consensus Estimate of $1,412 million. The year over year increase in revenue was driven by strong performance across all its product categories and geographies. While Wholesale revenues increased 5%, direct-to-consumer revenues jumped 23%.
For 2017, the company anticipates revenues to increase in the range of 11–12% to about $5.4 billion, with currency-neutral revenues rising 12–13%.
Zacks Rank: Currently, Under Armour carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
Stock Movement: Under Armour’s shares are down nearly 28% during pre-market trading hours following the earnings release. Clearly, a negative sentiment is palpable among investors as the company misses top and bottom line estimates.
Check back later for our full write up on Under Armour’s earnings report!
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Under Armour (UAA) Tumbles 28% on Q4 Earnings & Sales Miss
Under Armour Inc. (UAA - Free Report) , a leading designer, marketer, and distributor of authentic athletic footwear, apparel, and accessories for a wide variety of sports and fitness activities, released fourth-quarter 2016 results, wherein earnings of 23 cents a share came lagged the Zacks Consensus Estimate of 25 cents and fell 4.2% from 24 cents a share earned in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been stable in the last 30 days. Further, Under Armour’s performance in the trailing four quarters (including the quarter under review) gives a positive picture, with an average beat of 27%.
Under Armour, Inc. Price and EPS Surprise
Under Armour, Inc. Price and EPS Surprise | Under Armour, Inc. Quote
Revenues: Under Armour generated net sales of $1,308.1 million that increased 11.7% year over year but lagged the Zacks Consensus Estimate of $1,412 million. The year over year increase in revenue was driven by strong performance across all its product categories and geographies. While Wholesale revenues increased 5%, direct-to-consumer revenues jumped 23%.
For 2017, the company anticipates revenues to increase in the range of 11–12% to about $5.4 billion, with currency-neutral revenues rising 12–13%.
Zacks Rank: Currently, Under Armour carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Under Armour’s shares are down nearly 28% during pre-market trading hours following the earnings release. Clearly, a negative sentiment is palpable among investors as the company misses top and bottom line estimates.
Check back later for our full write up on Under Armour’s earnings report!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>