Under Armour Turns To Profit In Q4

(RTTNews) - Under Armour, Inc. (UA, UAA) reported fourth-quarter net income of $170.5 million or $0.38 per share compared to a loss of $59.6 million or $0.13 per share, previous year. Adjusted net income was $84 million or $0.18 per share, for the quarter. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $0.15, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter revenue was up 8 percent to $1.4 billion. Revenue increased 10 percent currency neutral. Analysts on average had estimated $1.36 billion in revenue. Wholesale revenue increased 10 percent to $909 million.

For fiscal 2024, the company expects earnings per share to be between $0.47 and $0.51. Revenue is expected to be flat to up slightly.

Cash and cash equivalents were $712 million at the end of the quarter.

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