** charts before earnings **
** charts after earnings **
Under Armour beats by $0.04, beats on revs; reaffirms FY16 revs guidance :
- Reports Q3 (Sep) earnings of $0.29 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.25; revenues rose 22.1% year/year to $1.47 bln vs the $1.45 bln Capital IQ Consensus.
- Wholesale net revenues grew 19% year-over-year to $1.01 billion
- Direct-to-Consumer net revenues grew 29% year-over-year to $408 million.
- North America net revenues for the third quarter grew 16% year-over-year.
- International net revenues, which represented 15% of total net revenues for the third quarter, grew 74% year-over-year, or 80% on a currency neutral basis.
- Product categories:
- Apparel net revenues increased 18% to $1.02 billion, led by growth in men's training, women's training, golf and team sports.
- Footwear net revenues increased 42% to $279 million, driven by strong growth in running and basketball.
- Accessories net revenues increased 18% to $122 million, driven primarily by growth in bags and headwear.
- Gross margin for the third quarter of 2016 was 47.5% compared with 48.8% in the prior year's period, primarily reflecting negative impacts from the timing of liquidation, increased promotions, and foreign exchange rates, partially offset by continued product cost margin improvements.
- Co reaffirms guidance for FY16, sees FY16 revs of $4.93 mln vs. $4.94 bln Capital IQ Consensus Estimate.
- Reaffirms 2016 operating income of $440 million to $445 million.
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