Under Armour Updates FY23 Outlook - Quick Facts

(RTTNews) - Under Armour, Inc. (UA, UAA) said, for fiscal 2023, the company now expects adjusted earnings per share to be $0.44 to $0.48, revised from the previous expectation of $0.47 to $0.53. Revenue is anticipated to grow at a low single-digit percentage rate compared to the previous expectation of 5 to 7 percent growth due primarily to a more challenging retail environment and additional negative impacts from changes in foreign currency. Currency-neutral revenue is projected to be up at a mid-single-digit percentage rate compared to the previous expectation of 7 to 9 percent growth.

Second quarter adjusted earnings per share was $0.20. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.16, for the quarter. Analysts' estimates typically exclude special items.

Net income declined to $86.9 million from $113.4 million, prior year. Earnings per share was $0.19 compared to $0.24. Revenue was up 2 percent to $1.6 billion, or up 5 percent currency neutral, compared to the prior year. Analysts on average had estimated $1.55 billion in revenue.

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