Under Armour 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 Armour reported net income of $109.7 million, or 23 cents a share, compared with $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 Armour 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 Armour’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 with 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.
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