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Under Armour (UA) 3Q16 Results: EPS Beats Expectations; Slower Apparel Growth Ahead

Executive Summary

  • Under Armour reported adjusted 3Q16 EPS of $0.29, ahead of the $0.25 consensus estimate and up 26.1% year over year. Revenues were $1.42 billion, up 21.4% year over year and slightly above the consensus estimate.
  • Footwear was the strongest product category in the quarter in terms of year-over-year growth; category revenues were up 42.1% year over year. Apparel and accessories sales grew by 18.0% and 17.6%, respectively.
  • For fiscal year 2016, Under Armour reiterated its revenue outlook of approximately $4.9 billion, representing 24% growth over the previous year.

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