- Under Armour (UA, UAA) races higher in early trading after topping revenue and gross margin estimates with its Q4 report.
- Apparel revenue was up 2% to $952M. while footwear sales rose 9% to $246M.
- Gross margin was 43.2% of sales during the quarter vs. +41.0% consensus estimate and 44.7% a year ago. SG&A expenses were 43.3% of sales.
- Looking ahead, the company expects revenue to be up at a low single-digit percentage rate, reflecting a mid-single-digit decline in North America offset by 25% international growth. FY18 EPS of $0.14 to $0.19 is anticipated vs. $0.20 consensus. Under Armours anticipates a minimum of $75M in savings annually from the restructuring efforts in 2019 and beyond.
- Previously: Under Armour EPS in-line, beats on revenue (Feb. 13)
- UA +10.32% premarket to $14.54. UAA +12.44% to $16.00.