Sportswear Company Under Armour Slashes FY24 Topline Outlook: Here's Why
Portfolio Pulse from Shivani Kumaresan
Under Armour Inc reported flat sales for Q2 FY24 at $1.567 billion, slightly missing the analyst consensus estimate. The company's EPS was $0.24, beating the consensus estimate of $0.21. However, Under Armour has cut its FY24 revenue outlook to be down 2% - 4%, previously expected to be flat or slightly up. Despite this, UAA shares are trading higher by 3.33%.
November 08, 2023 | 3:47 pm
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POSITIVE IMPACT
Under Armour reported flat Q2 FY24 sales and beat EPS estimates, but cut its FY24 revenue outlook. Despite this, UA shares are likely to follow the trend of UAA shares.
Under Armour's flat sales and reduced revenue outlook for FY24 might have been expected to negatively impact the stock. However, the company's shares are trading higher, possibly due to the better-than-expected EPS. This suggests that investors may be focusing more on the company's profitability than its sales performance. UA shares are likely to follow the trend of UAA shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Under Armour reported flat Q2 FY24 sales and beat EPS estimates, but cut its FY24 revenue outlook. Despite this, UAA shares are trading higher.
Under Armour's flat sales and reduced revenue outlook for FY24 might have been expected to negatively impact the stock. However, the company's shares are trading higher, possibly due to the better-than-expected EPS. This suggests that investors may be focusing more on the company's profitability than its sales performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100