Executive Summary

• Under Armour reported 1Q16 EPS of $0.04 versus the consensus estimate of $0.02.
• Total revenues were $1.05 billion, up 30% year over year, versus expectations of $1.04 billion.
• Full-year guidance calls for revenues of $5.0 billion, versus prior guidance of $4.95 billion and consensus of $4.99 billion. Operating income is now expected to be $503–$507 million versus prior guidance of $503 million.