Under Armour beats and says it's on track to meet its full year targets
Under Armour on Tuesday reported first-quarter results that beat on both the top and bottom lines.
The athletic-apparel maker posted a breakeven quarter as revenue rose 6% versus a year ago to $1.2 billion. Wall Street analysts surveyed by Bloomberg were expecting a loss of $0.06 a share on revenue of $1.12 billion.
The company said sales in North America were flat, but the company's international business saw revenue soar 27% year-over-year. Under Armour has been losing market share as of late, recently falling behind Puma as the third-largest athletic apparel brand.
Under Armour said it expects to see full year adjusted earnings per share of betwetn $0.14 and $0.19, which is in line with the $0.17 Bloomberg consensus.
"As we continue to build our global brand by delivering innovative performance products to our athletes, amplifying our story, further strengthening our go-to-market process, and leveraging our systems to create even deeper consumer connections - we remain confident in our ability to deliver on our full year targets," Under Armour Chairman and CEO Kevin Plank said in the earnings release.
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