Under Armour Q4 Earnings Top Estimates

Under Armour Inc UAA reported fourth-quarter FY21 sales growth of 9% year-on-year, to $1.53 billion, beating the analyst consensus of $1.47 billion.
- Wholesale revenue increased 16% Y/Y to $768 million, and direct-to-consumer revenue rose 10% to $720 million.
- Apparel revenue grew 18% Y/Y, Footwear climbed 17%, while Accessories revenue decreased 27%.
- Adjusted EPS of $0.14 beat the analyst consensus of $0.07.
- The gross profit rose 12% Y/Y to $775.9 million, and the gross margin increased 130 basis points Y/Y to 50.7%.
- The operating margin expanded 160 basis points to 5.6%, and operating income for the quarter rose 54.2% Y/Y to $86.1 million.
- The company held $1.7 billion in cash and equivalents as of December 31, 2021. Cash provided by operating activities for the twelve months totaled $664.8 million.
- Outlook: Under Armour sees EPS of $0.02 - $0.03 for the transition quarter ending March 31, 2022.
- The company raised the March quarter sales growth outlook to the mid-single-digit percentage range from the prior view of low single-digit range.
- Price Action: UAA shares are trading lower by 1.65% at $19.68 in premarket on the last check Friday.

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