Source: Company reports
1Q16 RESULTS
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. By category:
- Apparel sales were $666.6 million versus consensus of $668.9 million.
- Footwear sales were $264.2 million versus consensus of $256.5 million.
- Accessories sales were $79.7 million versus expectations of $77.8 million.
- Licensing sales were $19.4 million versus consensus of $20.1 million.
- Connected Fitness sales were $18.5 million versus consensus of $14.6 million.
Wholesale sales were up 28%, to $744 million, and direct to consumer sales were up 33%, to $266 million. Sales in North America were up 26% and international sales were up 56%.
Inventory at the end of the period was $834 million, up 44% year over year.
GUIDANCE
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.
