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Under Armour (UA) 2Q16 Results: Profits Negatively Affected by Liquidation of Sports Authority; Company Plans to Expand Brick-and-Mortar Locations in 2016

Executive Summary

  • Under Armour reported 2Q16 revenues of $1 billion, up 28.2% year over year and roughly in line with the consensus estimate. EPS was $0.01, missing the consensus by a penny and representing an 83.3% decrease from EPS of $0.06 in the year-ago quarter.
  • The direct-to-consumer business was the strongest-performing segment, driven by the popularity of Under Armour’s new partnership with basketball player Steph Curry.
  • The company forecasted full-year revenues of approximately $4.9 billion, representing growth of 24% over 2015.

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