Under Armour Reports Q1 Earnings Above Street View, Affirms FY24 Outlook
Portfolio Pulse from Shivani Kumaresan
Under Armour reported Q1 FY24 sales of $1.32 billion, a 2% decline YoY but above the analyst consensus of $1.30 billion. Wholesale revenue decreased 6% YoY, while direct-to-consumer revenue increased 4%. The company's EPS was $0.02, beating the consensus of $(0.03). For FY24, Under Armour expects revenue to be flat to slightly up and EPS of $0.47 - $0.51. UAA shares are trading lower by 0.26% in premarket.
August 08, 2023 | 1:15 pm
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Under Armour's Q1 FY24 sales and EPS beat analyst expectations, but shares are trading lower in premarket. The company expects flat to slightly increased revenue for FY24.
Despite beating analyst expectations for Q1 FY24, Under Armour's shares are trading lower in premarket. This could be due to the company's forecast of flat to slightly increased revenue for FY24, which may have disappointed investors expecting more robust growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100