=Under Armour (UAA) reported earnings on Tue 11 Feb 20 (b/o)

Under Armour reports EPS in-line, misses on revs; guides FY20 EPS below consensus

Reports Q4 (Dec) earnings of $0.10 per share, excluding $0.13 of non-recurring items, in-line with the S&P Capital IQ Consensus of $0.10; revenues rose 3.7% year/year to $1.44 bln vs the $1.47 bln S&P Capital IQ Consensus.

• Gross margin increased 230 basis points to 47.3% compared to the prior year driven primarily by pricing including lower discounts to its wholesale partners, channel mix and supply chain initiatives.
• Inventory decreased 12% to $892 mln.

Co issues downside guidance for FY20, sees EPS of $0.10-0.13, inclusive of an estimated $0.01-0.02 negative impact from the company's equity interest in its Japan licensee, vs. $0.46 S&P Capital IQ Consensus.

• Revenue is expected to be down at a low single-digit percent compared to 2019 results (vs +4% estimate). This reflects a mid to high-single-digit percentage decline in North America as work continues to rebalance the business against market demand dynamics and pro-active strategies to better protect the company's premium brand positioning. The international business is expected to grow at a low double-digit percentage rate.
• The company's initial 2020 outlook currently includes an estimated negative impact of the coronavirus outbreak in China of approx. $50-60 mln in sales related to the first quarter of 2020.
• Gross margin is expected to be up approx. 30-50 basis points versus the prior year due to ongoing supply chain initiatives and regional mix benefits.

The company also announced it is considering $325-425 mln in estimated pre-tax charges for 2020, including approx. $225-250 mln related to the possibility of foregoing opening a flagship store in New York City while pursuing sublet options for the long-term lease.

Based on initial assessments and timing of a potential restructuring initiative, the company could realize approx. $30-50 mln in pre-tax benefits in 2020. The company expects to complete its assessment during the first quarter of 2020, and subject to board review and approval, it would announce any potential restructuring charges upon adoption of any plan.

Earnings this week : Feb 10 - 14, 20 (wk 7)

Monday (Feb 10)

• Morning: AGN AVYA BIP CNA DO EPC GBDC IVC L MCY QSR
• Afternoon: AMKR BLKB BHF BRX ELY CHGG CMP DVA EEFT RE FRT FLDM IIIV IIVI JCOM KMPR LMNX MELI MESA MIME MOH OMF PSEC RPD RNG STE VRNS VOYA WTS XPO

Tuesday (Feb 11)

• Morning: AN CRL CEIX CRTO DBD D EXC GT HAS HLT INGR JLL LCII LPX MMYT MLM MAS MLCO NNN OMC ONDK SEE ST FLOW TGNA UAA USFD VIRT

Mon pm & Tue am https://finviz.com/screener.ashx?v=211&t=AMKR,BLKB,BHF,BRX,ELY,CHGG,CMP,DVA,EEFT,RE,FRT,FLDM,IIIV,IIVI,JCOM,KMPR,LMNX,MELI,MESA,MIME,MOH,OMF,PSEC,RPD,RNG,STE,VRNS,VOYA,WTS,XPO,AN,CRL,CEIX,CRTO,DBD,D,EXC,GT,HAS,HLT,INGR,JLL,LCII,LPX,MMYT,MLM,MAS,MLCO,NNN,OMC,ONDK,SEE,ST,FLOW,TGNA,UAA,USFD,VIRT&ta=0&o=-volume

• Afternoon: ACCO AKAM ACGL AIZ BXMT CNO CPSI DCP DENN DIOD DEI EXAS PEAK NSP KRNT LSCC LYFT NCR PVG PRI REXR TGH UDR VREX VNOM WU

Wednesday (Feb 12)

• Morning: AB ARCC GOLD BG CVE ECOM CIM CME CIGI CVS CYBR GPN NSIT IPG IQV LAD TAP MCO NBL RDWR SHOP TEVA TW TRVG

Tue pm & Wed am https://finviz.com/screener.ashx?v=211&t=ACCO,AKAM,ACGL,AIZ,BXMT,CNO,CPSI,DCP,DENN,DIOD,DEI,EXAS,PEAK,NSP,KRNT,LSCC,LYFT,NCR,PVG,PRI,REXR,TGH,UDR,VREX,VNOM,WU,AB,ARCC,GOLD,BG,CVE,ECOM,CIM,CME,CIGI,CVS,CYBR,GPN,NSIT,IPG,IQV,LAD,TAP,MCO,NBL,RDWR,SHOP,TEVA,TW,TRVG&ta=0&o=-volume

• Afternoon: AKR ATUS AEL ANDE NLY AM AR AMAT ARES ASGN AVLR NTB BRKR CDNS CTL CF CHNG CHEF CSCO COHU CPA CXW EFX EQIX EQC FR FOSL FCPT FTSI HR HUBS IFF KGC LPI MFC MRO MGM NTAP NWE NUS PGRE PEGA PRSP PS QLYS QDEL QUOT RDFN REG SSNC STAG SLF SPWR TCO TTGT TRMB TRIP TCX TYL WCN WELL

Thursday (Feb 13)

• Morning: AER AGIO BABA ALKS ALE AIMC AIG BPMC BWA BAM GTLS CBB DAN DLPH DUK EEX DAVA FIS FAF FTS GNRC HE HIMX HII HUN INCY IPGP IRM IRWD KELYA KHC LH LECO MTRN NGD NMRK NICE NVMI PATK PBF PBFX PEP POOL PDS R SSTK SITC SON TRP TPX THS TUFN WM WSO WST WEX WH YETI ZBRA ZTS

Wed pm & Thur am:  https://finviz.com/screener.ashx?v=211&t=AKR,ATUS,AEL,ANDE,NLY,AM,AR,AMAT,ARES,ASGN,AVLR,NTB,BRKR,CDNS,CTL,CF,CHNG,CHEF,CSCO,COHU,CPA,CXW,EFX,EQIX,EQC,FR,FOSL,FCPT,FTSI,HR,HUBS,IFF,KGC,LPI,MFC,MRO,MGM,NTAP,NWE,NUS,PGRE,PEGA,PRSP,PS,QLYS,QDEL,QUOT,RDFN,REG,SSNC,STAG,SLF,SPWR,TCO,TTGT,TRMB,TRIP,TCX,TYL,WCN,WELL,AER,AGIO,BABA,ALKS,ALE,AIMC,AIG,BPMC,BWA,BAM,GTLS,CBB,DAN,DLPH,DUK,EEX,DAVA,FIS,FAF,FTS,GNRC,HE,HIMX,HII,HUN,INCY,IPGP,IRM,IRWD,KELYA,KHC,LH,LECO,MTRN,NMRK,NICE,NVMI,PATK,PBF,PBFX,PEP,POOL,PDS,R,SSTK,SITC,SON,TRP,TPX,THS,TUFN,WM,WSO,WST,WEX,WH,YETI,ZBRA,ZTS&ta=0&o=-volume

• Afternoon: AEM AYX AMN ARI ANET BIO BKI BL BFAM CARG CC CGNX CXP CRY DDOG DXCM DLR EXPE FNF GDDY HTA LPSN MAT MERC MHK MRC NVDA PDFS RSG ROKU SWAV SPSC SPXC SVMK TLND TEX TNET TRUP RARE VECO WRE AUY YELP

Friday (Feb 14) 

• Morning: AXL ABR AZN CGC ENB ESNT MGP NWL POR PPL SXT TRTN YNDX
• Afternoon: AL

Notable earnings reports:
Restaurant Brands (NYSE:QSR) on February 10; Lyft (NASDAQ:LYFT), Hasbro (NASDAQ:HAS), Hilton (NYSE:HLT), Under Armour (UAA), and Western Union (NYSE:WU) on February 11; Cisco (NASDAQ:CSCO), CVS Health (NYSE:CVS), Shopify (NYSE:SHOP), Teva Pharmaceuticals (NYSE:TEVA) and TripAdvisor (NASDAQ:TRIP) on February 12; Alibaba, Nvidia, PepsiCo, Roku (NASDAQ:ROKU), AIG (NYSE:AIG) and Yelp (NYSE:YELP) on February 13; AstraZeneca (NYSE:AZN) on February 14.

-=Under Armour (UAA) reported earnings on Tue 30 July 2019 (b/o)

Under Armour beats by $0.01, reports revs in-line; guides FY19 EPS below consensus, reaffirms FY 19 revs outlook

Reports Q2 (Jun) loss of $0.04 per share, inclusive of a negative $0.01 impact from the company's minority interest in its Japanese licensee, $0.01 better thanthe S&P Capital IQ Consensus of ($0.05); revenues rose 1.4% year/year to $1.19 bln vs the $1.2 bln S&P Capital IQ Consensus.

• Gross margin increased 170 basis points to 46.5 percent compared to the prior year driven by supply chain initiatives, regional mix and restructuring charges in the prior period offset by foreign currency impacts.
• Wholesale revenue decreased 1 percent to $707 million and direct-to-consumer revenue was up 2 percent to $423 million, representing 35 percent of total revenue.
• North America revenue decreased 3 percent to $816 million and the international business increased 12 percent to $339 million (up 17 percent currency neutral) representing 28 percent of total revenue. Within the international business, revenue was up 6 percent in EMEA (up 11 percent currency neutral), up 23 percent in Asia-Pacific (up 29 percent currency neutral) and down 3 percent in Latin America (up 2 percent currency neutral).
• Apparel revenue decreased 1 percent to $740 million; footwear revenue increased 5 percent to $284 million; and accessories revenue was unchanged at $106 million.

Co issues slightly downside guidance for FY19, sees EPS of $0.33-0.34, inclusive of a negative $0.01 impact from the company's minority interest in its Japanese licensee, vs. $0.35 S&P Capital IQ Consensus.

• Revenue is expected to be up approximately 3 to 4 percent reflecting a slight decline in North America and a low to mid-teen percentage rate increase in the international business.
• Gross margin is expected to increase approximately 110 to 130 basis points compared to 2018. Excluding restructuring charges from the comparable prior period, we expect an increase of approximately 70 to 90 basis points compared to 2018 adjusted gross margin due to ongoing supply chain initiatives and channel mix benefits.

Earnings this week : July 29 - Aug 2, 19 (wk 31)

Monday (July 29)

• Morning: CTB ONDK SNY TSEM
• Afternoon: ACGL AKS AMH AMKR APPF APTS ARE AROC BRX BYND CGNX CHGG CVCO DISH EHC ELVT FRAC HLIT HTLF ILMN INST JBT JJSF LEG MDR MEDP NBIX NBR NGHC NOV NPO NTR NXPI OFC OGS OMF PCH PI PKI QTS RE RGA RIG RMBS RNG SANM SBAC SCI SSB SSD SSNC TACO TBI TEX TREX TRTX TXRH VNO VRNS WCN 

Tuesday (July 30)

• Morning:  AER AGCO AME AOS ARCC BEN BERY CEQP CIGI CMCO CMI CNX CNXM COP CVLT DHI DORM DSX ECL EME EQM ETN EXLS FDP FMS GEO GLT GLW GPN GRUB GTX HCA HUBB HUD HUN I INCY IPGP IR IRWD IT LDOS LGND LLY LPT MA MCRN MGLN MLM MMC MMYT MO MRK MYE NEO NRZ PAG PEG PG R RL SF SHOO SIRI SLCA SNE SQNS SR ST SXC TRS TX UAA VIVO VSH WAB WAT WCG WDR WYND XRX ZBRA
• Afternoon: AAPL ACHC ADSW AKAM ALL AMD AMGN APAM ARCB ASH ATEN ATRC AX AXS BEAT BLKB BXP BYD CACC CCS CDAY CHRW CINF CNO COHR CRY CSLT DENN DLR EA EGHT ENPH EQR EXP EXR FCPT FEYE FMC FTSI GILD GNW GRPN HA HR HUBG HURN HVT HY IMAX INVH IRWD KAI KBR KL LDL LNDC LSCC MC MDLZ MDU MGRC MKSI MOH MRCY MSTR MX MXIM NANO NATI NCR NR NUVA OKE PAYC PSA QGEN QUAD REXR RPAI RRD RTEC RXN SIMO SOI STAG SYKE SYX TCS TENB TRUP TTOO TWOU TX UDR UIS UMBF UNM VNOM VRSK WES WIRE YUMC ZEN

Wednesday (July 31)

• Morning: ACCO ADP AMCX AMRN AMT APO APTV ARES ASC BDC BG BHGE BLMN BTU CBZ CDW CG CHD CIM CLH CME CRL CRTO D DAN DIN EAF ECA EPD ETR EXTR FCAU FOE FSS GE GIB GLDD GRMN HEP HES HPP HSC HUM ICL JCI JHG KFRC LFUS LHX LIVN MCO MDC MGPI MTOR NI NLSN NYCB ORBC RDWR SAIA SBH SITE SMG SO SPG SPOT SPR SSYS STNG STRA TAP TGI TKR TMHC TNC TPB UTHR WLTW WNC
• Afternoon: ACAD AEGN AGI ALSN AM AMED APA AR ATR ATUS AVB AWK AYX BAND BLDP BOOT CAKE CASA CBL CCRN CF CHDN CHEF CMPR CNMD CONE CRUS CTSH CW CXO DRE DXCM EGOV EPR EQC EQIX ES ETH EVTC EXEL EZPW FICO FIT FIVN FLS FORM FOXF GDI GHL H HABT HCC HCP HI HOLX INN INOV IRTC KAMN KGC KTOS KW LADR LMNX LNC LPI LPSN LRCX LSI MAA MANT MASI MCK MEOH MET MOD MPWR MTDR MUSA MYRG NEXA NLS NLY OI OLN OR OXY PDM PGRE PK PPC PRAH PRU PS QCOM QLYS RBBN RDN RGR ROG RPT SIGI SKT SKY SKYW SLF SPWR SRI SWIR TDOC THG TIVO TRMB TRQ TS TSLX TTEK TTMI TWLO TYL UCTT VAC VAL VICI VNDA VRTX VVV WDC WELL WHD WLL WMB WRI WTI WTS ZNGA 

Thursday (Aug 1)

• Morning: AAON AAWW ABC ABMD ACOR ADM AGIO AKRX ALE AMCR ARW ASIX AVP BCE BCPC BLD BLL BPL BPMC BR BSIG CBRE CI CIR CLVS CLX CNHI CNQ CNSL CRAI CROX CRS CWT DD DEA DLPH DNKN EEX EIGI EXC GIL GLOG GM GNRC GPOR HBI HFC HGV HII HRI ICE IDA IDCC IDXX IGT INGR INSM IRM ITGR K KEM MAC MD MIXT MMP MPC MPLX MPW MSCI MT NMRK NNN NTCT NTLA NVT OSK PBF PBFX PBH PENN PGTI PH PRFT PWR RDS.A RFP RGEN ROLL RPD SABR SFM SHOP SNDR SPAR SPGI SRCL STAR STFC STOR SUM TFX TGP THS TNK TRI TRP TWI UFS VZ W WCC WEX WING WLH WMS WRK XEL XHR XYL YETI YUM ZEUS
• Afternoon: ANET APHA BZH WIFI CC CBPX DLB EBS EOG ETSY FSLR FLR FTNT GDDY GLUU GPRO TUSK PINS QRVO RDFN SQ SVMK OLED ZIXI

Friday (Aug 2) 

• Morning: ARNC XRAY CVX XOM RACE HRC NWL MGI QSR STX  

Notable earnings reports:

• NXP Semiconductors (NASDAQ:NXPI) and Beyond Meat (NASDAQ:BYND ) on July 29;
• Apple (NASDAQ:AAPL), Merck (NYSE:MRK), Pfizer (NYSE:PFE), Procter & Gamble (NYSE:PG), Altria (NYSE:MO), Electronic Arts (NASDAQ:EA), MasterCard (NYSE:MA), Mondelez International (NASDAQ:MDLZ), AMD (NASDAQ:AMD), FireEye (NASDAQ:FEYE ), ConocoPhillips (NYSE:COP) and Under Armour (UA, UAA) on July 30;
• General Electric (NYSE:GE ), Humana (NYSE:HUM), Qualcomm (NASDAQ:QCOM), Fitbit (NYSE:FIT), Spotify (NYSE:SPOT), Western Digital (NASDAQ:WDC) and Cirrus Logic (NASDAQ:CRUS ) on July 31;
• General Motors (NYSE:GM), U.S. Steel (NYSE:X), Kraft Heinz (NASDAQ:KHC), Shopify (NYSE:SHOP), Etsy (NASDAQ:ETSY), Wayfair (NYSE:W), Yum Brands (NYSE:YUM), Square (NYSE:SQ), GoPro (NASDAQ:GPRO) and Universal Display (NASDAQ:OLED) on August 1; 
• Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Newell Brands (NASDAQ:NWL) and Seagate Technology (NASDAQ:STX) on August 2.

=Under Armour (UAA) reported earnings on Thur 2 May 2019 (b/o)

Under Armour beats by $0.05, beats on revs; guides FY19 EPS in-line, reaffirms FY 19 revs guidance

• Reports Q1 (Mar) earnings of $0.05 per share, $0.05 better than the S&P Capital IQ Consensus of ($0.00); revenues rose 1.6% year/year to $1.2 bln vs the $1.18 bln S&P Capital IQ Consensus.
  • Wholesale revenue increased 5 percent to $818 million and direct-to-consumer revenue was down 6 percent to $331 million, representing 27 percent of total revenue.
  • North America revenue decreased 3 percent to $843 million and the international business increased 12 percent to $328 million (up 17 percent currency neutral), representing 27 percent of total revenue.
  • Gross margin increased 100 basis points to 45.2 percent compared to the prior year driven by product cost improvements, regional mix and prior period restructuring charges, offset by channel mix.
• Co issues in-line guidance for FY19, sees EPS of $0.33-0.34 vs. $0.34 S&P Capital IQ Consensus.
  • Previous EPS guidance of $0.31-0.33
  • Revenue is expected to be up approximately 3 to 4 percent reflecting relatively flat results for North America and a low double-digit percentage rate increase in the international business. 
  • Gross margin is now expected to increase approximately 110 to 130 basis points compared to 2018.

Earnings this week : April 29 - May 3, 2019 (wk 18)

Japan's Nikkei will be closed throughout the week (six sessions) for Golden Week, which will be highlighted by the start of an imperial transition.

Monday (April 29)

• Afternoon: AKS APTS ARE BRKS BRX CACC CGNX CHE CHGG CLR CNI CNO CR ELVT EPR EQC ETH GHL GOOG HLIT HTLF INST JBT JJSF KAI LEG LNTH LOGI MEDP MGM MKSI MOH MUSA NBIX NXPI OGS OII OMF PCH PI RGA RIG SANM SBAC SSB SSD SXI TBI THC TNET TRTX TXRH VRNS WDC WRI WWD YUMC

Tuesday (April 30)

• Morning: AMRC AOS APRN ARCC ARNC AROC BHGE LSE:BP. CCEP CDK CEQP CHTR CMI CNX CNXM COP CRI CRTO CVLT DBD EAT ECA ECL EEFT EIGI EME EQM ETM ETN EXLS FDC FDP FIS FLWS GDI GE GEO GLDD GLT GLW GM GWR HCA HMST HUBB HUN I INCY IPGP IPHS IR KKR LDOS LH LL LLY LOVE LPT MA MCD MCRN MDSO MGP MLM MRK NEO NLSN NYCB OSK PCAR PFE PSX PSXP R RFP SABR SC SCL SF SHOP SMP SPG STX TECH THRM TNC TRS TRTN TTS VIVO WCG WDR WELL WH WRK ZBRA
• Tuesday: AAPL ACGL ACHC ADSW AKAM AMD AMED AMGN APAM ARLO ASH ATR AX BFAM BLKB BVN BXP CAI CAMP CB CBL CENX CHRW CMP COHR CRY CWST CXO CYH DENN DVN EIX ENLC ENPH EQR EXAS EXR FEYE FICO FISV FLEX FOE FTR GNW GRPN HCSG HUBG HURN HVT HY IPHI JKHY KBR LDL LKSD LSCC MC MDC MDLZ MDU MGRC MRCY MSTR MX MXIM NANO NATI NBR NEXA NUS OFC OKE OLN OSIS PAYC QTS QUAD REXR ROG RPAI RRD RRR SOI SSNC STAG SYX TCO TDOC TENB TEX TNDM TWLO UDR UNM USNA VNOM VRSK VRTX WES WIRE WNC ZEN

Wednesday (May 1)

• Morning: AAWW ADP AER ALNY AMCX AME AMRN ASC BDC BKI BMCH BTU CCJ CDW CG CIM CLH CLX CME CSTE CVS DIN DOC EAF EL ENBL EPD ESI ETR EXTR FTS GCI GIB GRMN HEP HLT HRS HUM IDXX IIVI IQV JCI KFRC LFUS LIVN LLL LXRX MGPI MMP MTOR NI NNN NRZ NSIT NVMI ORBC PBF PBFX PBI PNW RCL RDN RDWR SAIA SBH SEE SFS SITE SLCA SMG SO SPR SR ST STRA SXT TAP TKR TMHC TPB TRVG UFS UTHR WD WLTW WYND YUM

• Afternoon: ACAD AEGN AEL AFG AGI ALL AM ANSS APA AR AUY AWK AYX BLDP BNFT BWXT CACI CAKE CAR CASA CCRN CDAY CDE CF CHEF CLI CMPR CONE CPS CREE CRUS CSGS CZR DLB DOOR DXCM EB EQIX ES ESV EVTC EXEL EZPW FARO FIT FIVN FORM FOXF GIL H HABT HCC HCP HGV HI HIG HOLX HR HST ICLR INN INOV KAMN KW LMAT LNC LPI LSI MAA MANT MED MET MFC MITK MRO MTDR MXL MYRG NE NGVT NLY NPO NUVA O OI OTEX PDCE PDFS PDM PE PGRE PPC PRAH PRU PS PSA QCOM QLYS RGLD RPT RYI RYN SIGI SM SQ SRI SSW STAY SU SWM THG TRMB TTEK TTMI TUSK TYL VICI VNDA VVV WHD WK WLL WMB WPX WTI XPO ZNGA

Thursday (May 2)

• Morning: AAON ABC ABMD ACCO ACOR AGCO AGIO ALE APO APTV ARES ARW AVA AVP AYR BCE BERY BID BLL BSIG CBM CCOI CHD CI COT CRAI DAN DISC.A DLPH DNKN DNOW DWDP EEX EXC FLR FLOW FMS FSS GEL GNRC GPN HBI HFC HII HPP HRI IBP ICE IDA IDCC INGR IRWD ITGR JHG K KEX KIM LAMR MAC MD MGLN MNTA MPW MSCI MSGN MTRN MUR NEWM NRG NTCT NTLA NVCR OGE ONDK PCRX PEG PENN PGTI PH PPL PRFT PWR RDS.A RLGY SAGE SFM SNDR SPAR SPGI SRC SSYS STAR STFC STNG STOR TEVA TFX THS TOWR TPX TX UAA UNT USPH VMC W WCC WEX WLH WLK WLKP WP XHR XYL YETI ZEUS ZTS
• Afternoon: ACA ACIA AIV ALEX AMH AMKR AMN ANET ANIK AOSL APPF APPN ARCB ATGE ATUS ATVI BAND BGS BKH BL BLDR BRKR BZH CARB CATM CBLK CBPX CBS CC CCS CNXN CPSI CPT CRC CSLT CTSH CUB CYRX DATA DEI EBS ECOL ED EOG EPAY ERI ERII EXPE FLS FND FNKO FRT FSLR FTAI FTNT G GDDY GILD GMED GPOR GSHD HAYN HLF HTGC ICFI KLIC KWR LGND LNT LOCO LPLA LPSN LYV MATW MDRX MELI MERC MNST MPWR MRC MSI MTX MTZ NFG NP NPTN NSA OEC OLED PBA PCTY PLNT PMT PODD POST PTCT PVG RBBN REG RMAX RMD RPD SEM SHAK SHLX SIMO SPXC SRCL SWKS TDC TDS TMST TRUP TS TSE TSLX TTOO UCTT UIS UPLD USM USX VIAV VRAY WAIR WSC WTR WTS WW WYNN X XOG ZIXI

Friday (May 3)

• Morning: AMT ASIX AXL BCPC BIP CBOE D DISH ESNT FCAU GLOG HMSY IMGN ITT KOP NBL NJR NWL OPI ROCK RUTH SGMS TRP TWI VIRT WPC XRAY

-=Under Armour (UAA) reported earnings on Tue 12 Feb 2019 (b/o)

Under Armour beats by $0.05, reports revs in-line; reaffirms FY19 EPS guidance, revs guidance

• Reports Q4 (Dec) earnings of $0.09 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $0.04; revenues rose 1.5% year/year to $1.39 bln vs the $1.38 bln S&P Capital IQ Consensus.
  • Wholesale revenue increased 1 percent to $737 million and direct-to-consumer revenue was flat at $577 million, representing 41 percent of total revenue.
  • North America revenue decreased 6 percent to $965 million and international business increased 24 percent to $395 million (up 28 percent currency neutral), representing 28 percent of total revenue.
    • Within the international business, revenue was up 32 percent in EMEA (up 35 percent currency neutral), up 35 percent inAsia-Pacific (up 39 percent currency neutral), and down 15 percent in Latin America (down 11 percent currency neutral).
  • Apparel revenue increased 2 percent to $970 million with growth in the train category. Footwear revenue decreased 4 percent to $235 million primarily driven by lower sales to the off-price channel.
  • adjusted gross margin increased 160 basis points to 45.1 percent compared to the prior year driven predominantly by regional and channel mix, product cost improvements, lower promotional activity, and lower air freight partially offset by changes in foreign currency
  • Inventory decreased 12 percent to $1.0 billion
• Co reaffirms guidance for FY19, sees EPS of $0.31-0.33 vs. $0.33 S&P Capital IQ Consensus.
  • Revenue is expected to increase approximately 3 to 4 percent reflecting relatively flat results for North America and a low double-digit percentage rate increase in the international business. 
  • Gross margin is expected to improve approximately 60 to 80 basis points compared to 2018 adjusted gross margin due to channel mix benefits from lower planned sales to the off-price channel and a higher percentage of direct-to-consumer sales along with more favorable product costs due to ongoing supply chain initiatives.
  • Capital expenditures are planned at approximately $210 million.

Earnings this week : Feb. 11 - 15, 2019 (wk 7)

Earnings confirmed to report this week:

Monday (Feb 11)

• Morning: CNA DO GPRE KMPR L MCY MDP MPAA NSP QSR
• Afternoon: AMBR, AMKR ACB BHF BRS BRX BRKR CHGG CMP ROAD DCP ELVT RE FARM FMC RAMP MIME MOH MGI LABL NWE OHI OMF PYX RNG VRNS VECO VNO 

Mon pm/Tue am (vol): https://finviz.com/screener.ashx?v=211&t=AMBR,AMKR,ACB,BHF,BRS,BRX,BRKR,CHGG,CMP,ROAD,DCP,ELVT,RE,FARM,FMC,RAMP,MIME,MOH,MGI,LABL,NWE,OHI,OMF,PYX,RNG,VRNS,VECO,VNO,AYR,ARCC,FIS,HUN,IPGP,JLL,MLM,MDSO,TAP,NNN,NP,NRZ,OMC,ONDK,SABR,SHOP,STE,TOWR,UAA,USFD,WEC,WELL&ta=0&o=-volume

Tuesday (Feb 12)

• Morning: AYR ARCC FIS HUN IPGP JLL MLM MDSO TAP NNN NP NRZ OMC ONDK SABR SHOP STE TOWR UAA USFD WEC WELL 
• Afternoon: ACGL AIZ AKAM AQ ATVI AVLR BFAM BXMT CNO CRAY CSOD DEI DENN EXEL GRPN HUBS IRTC JCOM KRNT LSCC MPWR OXY QLYS QUOT REXR RPAI RRR SHO SPSC TRIP TWLO UDR UIS

Tue pm/Wed am (vol):  https://finviz.com/screener.ashx?v=211&ta=0&o=-volume&t=ACGL,AIZ,AKAM,AQ,ATVI,AVLR,BFAM,BXMT,CNO,CRAY,CSOD,DEI,DENN,EXEL,GRPN,HUBS,IRTC,JCOM,KRNT,LSCC,MPWR,OXY,QLYS,QUOT,REXR,RPAI,RRR,SHO,SPSC,TRIP,TWLO,UDR,UIS,AB,ACCO,BABY,BKI,CAMT,CBM,CBRE,CBZ,CEVA,CFX,CIGI,CIM,CRL,CRTO,CVE,DBD,DISH,ECOM,FLIR,FUN,GLPI,GOLD,GPN,HLT,IPG,IRWD,KELY-A,LAD,LPX,LXFT,NVMI,TECK,TEVA,TMHC,WH

Wednesday (Feb 13)

• Morning: AB ACCO BABY BKI CAMT CBM CBRE CBZ CEVA CFX CIGI CIM CRL CRTO CVE DBD DISH ECOM FLIR FUN GLPI GOLD GPN HLT IPG IRWD KELY.A LAD LPX LXFT NVMI TECK TEVA TMHC WH 
• Afternoon: AIG AKR AMGP ANDE AR ARES ARI ASGN BAND BCOV BKD CF CHEF CPA CRY CSCO CTL CTRE CXP DIOD DVA EQC EQIX FCPT FNF FOSL FR FRT H HCP HR IFF IVC KAI KGC LPI MFC MGM MRO NGVT NLY NPO NTAP NUS OII OIS PGRE PPC PRSP PS PXD QDEL QTWO REG RYAM SKT SLF SNBR SPWR STAG SVMK SWIR TCO TCX TRUP TSE VNDA WCN WMB YELP

Thursday (Feb 14)

• Morning: AAN AEE AER AGIO ALE ALKS ARCH AVP AZN BAM BCOR BGCP BLMN BWA CBB CCEP CME COWN CYBR DGX DNOW DUK EEX EPAM EQM EQT FAF GEO GLOG GNRC GOOS GTLS HII HPP INCY IQV IRM KO LECO MANU MGP MTRN NICE NSIT PATK PBF PBFX PDS POOL PPL R SIX SMI SMP SON STFC STNG THS TPX TRP TRTN TRU TU VMC WLH WM WSO WST YETI ZBRA ZTS
• Afternoon: AEM AIRG AMAT AMN ANET AUY BL CBS CC CGC CGNX CPS CVA ELLI GLOB HTA INVH  LOGM  MERC MRC MX NVDA PDFS RDFN RWT SPXC SSNC TLND TNET TREX TRUE VICI WES WGP WRE XPO 

Friday (Feb 15)

• Morning: ABR AXL CHH CPSI DAN DE TSX:ENB FTS MCO NWL PEP POR SXT TYPE WBC YNDX ZEUS

=Under Armour (UAA) reported earnings on Tue 30 Oct 2018 (b/o)

Under Armour beats by $0.13, beats on revs; guides FY18 EPS above consensus, reaffirms revs guidance

• Reports Q3 (Sep) earnings of $0.25 per share, excluding non-recurring items, $0.13 better than the S&P Capital IQ Consensus of $0.12; revenues rose 2.4% year/year to $1.44 bln vs the $1.42 bln S&P Capital IQ Consensus.
  • North America revenue decreased 2 percent to $1.1 billion (down 1 percent currency neutral) and the international business increased 15 percent to $351 million (up 17 percent currency neutral), representing 24 percent of total revenue.
  • Excluding restructuring efforts in both periods, adjusted gross margin increased 20 basis points to 46.5 percent compared to the prior year driven predominantly by product cost improvements and lower promotional activity offset by channel mix.
• Co issues upside guidance for FY18, sees EPS of $0.19-0.22, excluding non-recurring items, vs. $0.17 S&P Capital IQ Consensus.
  • Revenue is expected to increase approximately 3 to 4 percent reflecting a low single-digit decline in North America and international growth of approximately 25 percent. From a product perspective, apparel is expected to grow at a mid-single-digit rate, footwear at a low single-digit rate, and accessories is now expected to decline at a mid-single-digit rate.
  • Gross margin is expected be flat to down slightly versus the prior year rate of 45.0 percent. Adjusted gross margin is expected to improve slightly compared to 2017 as benefits from product costs and lower planned promotional activity are offset primarily by inventory management actions.

Earnings this week : Oct 29 - Nov 2, 18 (wk 44)

Headlining earnings this week will be Facebook (FB) on Tuesday and Apple (AAPL) on Thursday. Other notable earnings reports include General Electric (GE), Pfizer (PFE), and Coca-Cola (KO) on Tuesday, General Motors (GM) on Wednesday, Starbucks (SBUX) on Thursday, and Alibaba (BABA) on Friday.

Monday (Oct 29) 

• Morning: FDC YNDX BAH ON AMG CDAY RAMP WFT
• Afternoon:   AEIS AKAM ALSN AMED AMKR APPF APTI ARE AVB AXGN BLKB BRX CACC CBL CGNX CHE CHGG CLR CYH EFII EGHT EHC ELVT EPR ESV FCPT FET FTSI HIIQ HLIT HTLF INST KAI KBR KLAC KNL MDLZ MEDP NLS OFIX OGS OLN PI QGEN QTNA QTS RE RIG RMBS SANM SCI SSD TCO TKR TNET TREX TXRH UDR VNO VNOM VRNS WCN WING

Tuesday (Oct 30)

• Morning:  CHK + ACCO AER AET AGCO AGN AMRC AMT AN AOS ARII ARNC ARRY AWI BHGE BKI BP BPMC BTU CEQP CIGI CMCO CMI CNX CNXM CTSH CVLT EAT ECL ERJ ETN EXP FCAU FDP FIS FLIR FLOW FMS FUN GE GPN GWR HCA HEP HMC HUN HZO I INCY IPGP IPI KEM KO LL LYB MA MAS MSM NEO NTLA OXSQ PEG PFE SABR SHOO SNE SQNS SSTK ST TECH TPR TRS UAA VMC VNTR VSH WAB WCG WDR WELL WH WLH XYL
• Afternoon: ACGL AEGN AFG AINV AMGN APAM APC BAND BEAT BGS BHE BIDU BJRI BXP CAI CAKE CHRW CLVS CONE CRAY CW CXO DDD DENN EA EBAY EIX EVTC EXAS EXR FB FEYE FLT GNW H HABT HCLP HLF HURN HVT HY INN IQ IRTC LNTH MDR MGM MGRC MOBL MOD MRCY MX MXIM MXL NANO NBR NCR NGHC NTRI NUVA NXGN OI OKE ORBC OSPN PAYC PDM PSA QLYS QNST QUAD RBBN REXR RNR RPAI RRD RXN SF SFLY SIMO SKYW SPWR SSW TCS TENB TMUS TTMI TX ULTI VOYA VRSK WES WGP WIRE WLL WNC XLRN YUMC ZEN

Wednesday (Oct 31)

• Morning: ACOR ADP AEE AIT ANTM APO APTV ARCC AUO BAX BCOR BDC BG CAMT CBZ CDW CG CIM CLH CLX CRTO CVE DBD DIN EGL EL EPD ETR GM GNC GRMN HCP HES HFC HSC IART ICE ICPT IGT K KFRC LFUS LIVN MAXR NEWM OMI ORBK PBF PBFX RDC RDN S SAIA SC SITE SNY SPAR SPR STNG TAP TEL THR TMHC UTHR WD WEC WEX YUM    
• Afternoon: ADSW AGI AIG ALL AMGP AMN APA AR ATH AWK AXTI BLDP CACI CDE CF CLI CMP CNO CRY ENSG ESRT ESRX FARO FISV FIT FORM FOXF FRAC FRT HBM HCC HGV HPR JBT KIDS KRG KW LHCG LSI MAA MAC MASI MDU MOH MRC MTDR MUSA MYRG NE NEXA NFX NLY NPO NXPI O OMF OTEX PKI PPC PRAH QRVO RGLD RGR RPT RYN SOI SSNC STAY STMP SU THG TS TUSK TYL WHD WMB WPX WTI XPO ZNGA

Thursday (Nov 1)

• Morning: ECA   AAON AAWW ABMD AGIO ALE AMAG AMCX AME AMRN ARES AROC ARW AVP AYR BCE BID BLL BMCH BSIG CBRE CCOI CEIX CHD CHSP CI CJ CNQ CNSL CRAI CWT D DM DNOW DWDP EEX EGRX EPAM EXC EXLS FBM FLWS FND GEL GIL GLOG GLPI GNRC GOLF HBI HPP IBP ICL IDA IDCC IDXX IIVI INAP INGR INXN IPHS IT ITGR JHG LCII LITE LXRX MD MDC MGP MGPI MIXT MMP MPC MPW MSCI MSG MT NBL NI NSP NTCT NVMI NYT OSK PAH PBH PBI PENN PH PPL PRFT PWR RDS.A ROCK SEE SFM SHPG SN SNDR SNR SPOT SSYS STFC STOR TEVA TFX THS TPX TREE TRP TVPT UFS USCR USPH VECO VSAT VSTO W WCC WRLD WYND YRCW ZTS 
• Afternoon: AAPL ACIA ACLS AGI AIRG AIV ALEX AMH ANET AOSL APPN ARCB ATGE ATHN ATR ATRC ATSG BCOV BFAM BIO BL BLDR BNFT BRKR BVX CARB CATM CBPO CBS CC CCRN CECO CERS CHEF CPS CPSI CRC CRUS CTRL CWST CZR DEI DHT EBS ECOL ED EEP EGOV ELGX EOG EQIX ERII ES EXEL FATE FICO FLR FTAI FTNT GPRO GSAT GSBD GTE HR HST HTGC ICFI IMMR IPHI KAMN KHC KTWO KWR LADR LHO LNC LOCO LYV MDRX MELI MET MITK MSI MTX OLED P PACB PBA PBYI PCTY PE PEB PETX PK PMT PODD RMAX ROG RP RTEC RTRX RYI SBUX SEDG SEM SHAK SHLX SKT SM SPXC SRCL SRG STAG SYMC TDC TDOC TEX TNDM TRMB TRQ TSRO TTOO UNIT USX VIAV VICI WIFI WTW WU X Y 

Friday (Nov 2)

• Morning:  ABBV ABR ASIX AXL BABA BPL CBOE CCJ CNK COL CVX DOC DUK EAF ENB EXTR FTS HMSY HRC IMGN IMO ITT MDP MOG.A MSGN NPTN NWL RLGY ROLL RUTH STX TDS TGH TRTN TWI TYPE USM VG VIRT VST WLTW WPC XOM

-=Under Armour (UAA) reported earnings on Tue 1 May 2018 (b/o)

Under Armour beats by $0.05, beats on revs, reaffirms 2018 outlook 

• Reports Q1 (Mar) net of breakeven, excluding non-recurring items, $0.05 better thanthe Capital IQ Consensus of ($0.05); revenues rose 5.9% year/year to $1.19 bln vs the $1.12 bln Capital IQ Consensus.
• Co reaffirms prior 2018 revenue guidance: up at a low single-digit percentage rate reflecting a mid-single-digit decline in North America and international growth of greater than 25%.

=Under Armour (UAA) reported earnings on Tue 13 Feb 2018 (b/o)

Under Armour reports EPS in-line, beats on revs; guides FY18 EPS below consensus, rev in-line 

• Reports Q4 (Dec) net of breakeven, excluding non-recurring items, in-line with the Capital IQ Consensus of ($0.00); revenues rose 4.6% year/year to $1.37 bln vs the $1.31 bln Capital IQ Consensus (up 4 percent currency neutral).
  • Revenue to wholesale customers declined 1 percent to $733 million and direct-to-consumer revenue was up 11 percent to $575 million. Direct-to-consumer represented 42 percent of global revenue in the quarter.
  • Consistent with previous expectations, revenue in North America was down 4 percent. Strong international momentum continued with revenue up 47 percent (up 43 percent currency neutral), representing 23 percent of total revenue. Within our international business, revenue in EMEA was up 45 percent (up 37 percent currency neutral), up 56 percent in Asia-Pacific (up 55 percent currency neutral) and up 36 percent in Latin America (up 34 percent currency neutral).
  • Apparel revenue increased 2 percent to $952 million, as growth in men's training and global football was tempered by declines in the team sports and outdoor categories. Footwear revenue was up 9 percent to $246 million, driven by strength in running, offset by team sports and basketball. Accessories revenue increased 6 percent to $111 million led by men's training and running.
• Co issues downside guidance for FY18, sees EPS of $0.14-0.19, excluding non-recurring items, vs. $0.22 Capital IQ Consensus. Net revenue is expected to be up at a low single-digit percentage rate (vs. +3.3% consensus) reflecting a mid-single-digit decline in North America and international growth of greater than 25 percent. Gross margin is expected to increase ~50 basis points to 45.5 percent due to benefits from lower planned promotional activity, product costs, channel mix and changes in foreign currency. Operating income is expected to reach $20 million to $30 million. Excluding the impact of continued restructuring efforts, adjusted operating income is expected to be $130 to $160 million.  
• Based on the restructuring efforts in 2017 and 2018, the company anticipates a minimum of $75 million in savings annually from these efforts in 2019 and beyond.

=Under Armour (UAA) reported earnings on Tue 31 Oct 2017 (b/o)

Under Armour beats by $0.03, misses on revs; Lowers 2017 outlook 

• Reports Q3 (Sep) earnings of $0.22 per share, excluding non-recurring items, $0.03 better thanthe Capital IQ Consensus of $0.19; revenues fell 4.5% year/year to $1.41 bln vs the $1.49 bln Capital IQ Consensus.
• Gross margin declined 160 basis points to 45.9 percent as benefits from changes in foreign currency rates and product costs were more than offset by pricing and other inventory management initiatives, and regional mix.
• Inventory increased 22 percent to $1.2 billion.
• While our international business continues to deliver against our ambition of building a global brand, operational challenges and lower demand in North America resulted in third quarter revenue that was below our expectations. "Based on these issues in our largest market, we believe it is prudent to reduce our sales and earnings outlook for the remainder of 2017."

Updated Fiscal 2017 Outlook

• Net revenue is expected to be up at a low single-digit percentage rate (Prior +9-11%)reflecting lower North American demand and operational challenges due to the implementation of the company's enterprise resource planning system and related service levels.
• Gross margin is expected to be down approximately 220 basis points (Prior down 160 bps) compared to 46.4 percent in 2016 as benefits from product costs and channel mix are more than offset by increased efforts to manage inventory within a highly promotional environment, impacts from the restructuring plan and increasing regional mix.
• Adjusted gross margin is expected to be down approximately 190 basis points (Prior down 120 bps) compared to 46.4 percent in 2016.
• Adjusted diluted earnings per share of $0.18 to $0.20 (Prior $0.37-0.40), Capital IQ consensus $0.37.
• Capital expenditures of approximately $300 million (Prior $350 mln).

=Under Armour (UAA) reported earnings on Tue 1 Aug 2017 (b/o)

Under Armour beats by $0.03, beats on revs; lowers FY17 guidance; announces restructuring:

• Reports Q2 (Jun) loss of $0.03 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of ($0.06); revenues rose 8.7% year/year to $1.09 bln vs the $1.08 bln Capital IQ Consensus, up 8 percent currency neutral. Revenue to wholesale customers rose 3 percent to $655 million and direct-to-consumer revenue was up 20 percent to $386 million. A dynamic and promotional retail environment in North America continued to temper results with revenue in line with last year's same period. Outside North America, the strong momentum continued with international revenue up 57 percent (up 54 percent currency neutral), representing 22 percent of total revenue. Within our international business, revenue in EMEA was up 57 percent (up 53 percent currency neutral), up 89 percent in Asia-Pacific (up 87 percent currency neutral) and up 10 percent in Latin America (up 9 percent currency neutral). Apparel revenue increased 11 percent to $681 million including strength in men's and women's training, and golf. Footwear revenue was down 2 percent to $237 million, against last year's same period which was up 58 percent due to significant strength in basketball sales. Accessories revenue increased 22 percent to $123 million with strength in men's and women's training, and youth performance.
• Gross margin declined 190 basis points to 45.8 percent as benefits from channel and product mix were offset by inventory management initiatives, changes in foreign currency rates, and higher air freight in connection with our enterprise resource planning (:ERP) system implementation, which impacted the timing of shipments to certain key customers.
• Co issues guidance for FY17, sees EPS of $0.37-0.40, excluding non-recurring items, vs. $0.42 Capital IQ Consensus Estimate; sees FY17 revs of +9-11% to ~$5.26-5.36 bln vs. $5.35 bln Capital IQ Consensus Estimate. 
• Under Armour's Board of Directors has approved a restructuring plan to more closely align its financial resources to support the company's efforts to better serve the evolving needs of the changing consumer and customer landscape. "As we stand up our category management structure within a consumer-led approach, we intend to meaningfully increase our go-to-market speed and amplify our digital capabilities," continued Plank. "We've identified a number of areas to enhance our operational capabilities, drive process improvement and gain greater efficiencies. We remain steadfast in driving and building our brand while shifting our operational focus to become more return-on-investment and cost of capital centric - institutionalizing discipline to deliver more consistent, long-term shareholder value." In conjunction with this plan, the company expects to incur total estimated pre-tax restructuring and related charges of ~$110-130 million. 

Footwear retailers & Amazon

 Footwear retailers drop on the whisper of Nike selling directly on Amazon.

=Under Armour (UAA) reported earnings on Thur 27 April 2017 (b/o)

Under Armour beats by $0.03, reports revs in-line; reaffirms FY17 guidance:

• Reports Q1 (Mar) loss of $0.01 per share, $0.03 better than the Capital IQ Consensus of ($0.04); revenues rose 6.7% year/year to $1.12 bln vs the $1.11 bln Capital IQ Consensus. North American revenue declined 1 percent as new distribution was more than offset by the absence of business lost to bankruptcies in 2016. International revenue, which is comprised of our EMEA, Asia-Pacific, and Latin America regions, represented 20 percent of total revenue in the quarter, and was up 52 percent (up 57 percent currency neutral). By region, revenue was up 55 percent in EMEA, 60 percent in Asia-Pacific and 30 percent in Latin America. Apparel revenue increased 7 percent to $715 million including strength in training, golf, and team sports. Footwear revenue grew 2 percent to $270 million, against last year's same period which was up 64 percent due to significant strength in basketball sales and the timing of liquidations. Accessories revenue increased 12 percent to $89 million with strength in men's training, running, youth, and global football.
• Gross margin was down 70 basis points (vs. 100 bps guidance) to 45.2 percent as benefits from channel and product mix were offset by continued efforts to manage inventories appropriate to market demand.
• Co reaffirms guidance for FY17, sees FY17 revs +11-12% to nearly $5.4 bln vs. $5.35 bln Capital IQ Consensus. Gross margin expected to be slightly down compared to 46.4% in 2016 with benefits in product costs being offset by changes in foreign currency and shifts in overall sales mix, as the footwear and international businesses continue to outpace the growth of the higher margin apparel and North American businesses; Operating income expected to reach ~$320 million. 

=Under Armour (UAA) reported earnings on Tue 31 Jan 2017 (b/o)

Under Armour misses by $0.02, misses on revs; guides FY17 revs below consensus; CFO leaving :

• Reports Q4 (Dec) earnings of $0.23 per share, $0.02 worse than the Capital IQ Consensus of $0.25; revenues rose 11.7% year/year to $1.31 bln vs the $1.41 bln Capital IQ Consensus.
  • North American revenues grew 6 percent.
  • International revenues, which represented 16 percent of total revenues in the quarter, were up 55 percent driven by significant growth in the U.K., Germany, China and Australia.
  • Apparel revenues increased 7 percent to $929 million including strength in golf and basketball.
  • Footwear revenues increased 36 percent to $228 million driven by accelerated growth in running and basketball.
  • Accessories revenues increased 7 percent to $104 million with strength in bags and headwear.
  • Gross margin was 44.8 percent compared with 48 percent in the prior year's period, as benefits from more favorable product costs were offset by aggressive efforts to manage inventory, changes in foreign currency and the outperformance of footwear and international businesses in the overall mix.
  • Inventory increased 17 percent to $917 million. 
  • Total debt increased 22 percent to $817 million.
• Co issues downside guidance for FY17, sees FY17 revs of +11-12% approx $5.4 bln vs. $6.06 bln Capital IQ Consensus Estimate.
  • Gross margin is expected to be slightly down y/y.
  • Tempered top line results coupled with strategic investments in the company's fastest growing businesses are expected to cause a decline in operating income to approximately $320 million.
  • Other full year assumptions include interest expense of approximately $40 million and an effective tax rate of 32 to 34 percent.
• CFO Departure
• The Company's Chief Financial Officer, Chip Molloy, has decided to leave the company due to personal reasons. Effective February 3, David Bergman, Senior Vice President, Corporate Finance will serve as acting CFO. Mr. Molloy will remain with the company in an advisory capacity to assist with the transition.

UnderArmour Class A stock changes to UAA from UA.

• Under Armour Class A stock changes to UAA from UA.
• Class C shares will change to "UA" from "UA.C."   Class C shares don’t have voting rights,
• The changes will be effective Dec. 7. 

The Class A shares were by far the more active, with a full-day average of 8.03 million shares traded over the past 30 days, according to FactSet, compared with the Class C share volume of 1.58 million shares.

Through Tuesday, the average daily volume over the past 30 days was about 8.5 million shares for the Class A shares, according to FactSet, and 2.1 million shares for the Class C shares.

The Class A shares closed Friday at the lowest price since July 2014. The shares have now tumbled 24% year to date through Tuesday, while rival Nike’s stock has dropped 18% and the S&P 500 index SPX has gained 8.2%.

The company didn't give a reason for changing the ticker symbols when it was announced last week.

But the company commemorated the change in tickers, and the MLB deal, by ringing the New York Stock Exchange’s opening bell Wednesday.

Under Armour (UA) reported earnings on Tue 25 Oct 2016 (b/o)

** 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.

Under Armour (UA) reported earnings on Tue 26 Jul 16 (b/o)

** charts before earnings **

 

** charts after earnings **

Under Armour misses by $0.01, reports revs in-line; reaffirms FY16 revs guidance  :

• Reports Q2 (Jun) earnings of $0.01 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.02; revenues rose 27.7% year/year to $1 bln vs the $1 bln Capital IQ Consensus. EPS is inclusive of $0.03 impact from the impairment related to the Sports Authority liquidation. This compares with diluted earnings per share of $0.03 for all classes in the prior year's period.
• Gross margin for the second quarter of 2016 was 47.7% compared with 48.4% in the prior year's period.
• Co reaffirms guidance for FY16, sees FY16 revs of ~$4.925 bln vs. $4.96 bln Capital IQ Consensus Estimate.
• North America net revenues for the second quarter grew 22% year-over-year. International net revenues, which represented 15% of total net revenues for the second quarter, grew 68% year-over-year, or 72% on a currency neutral basis.
• FY16 Guidance: Co sees 2016 operating income in the range of $440 mln to $445 mln, representing growth of 8% to 9% over 2015. Below the operating line, the Company expects interest expense of ~$32 mln, an effective full year tax rate of ~36.5%, and fully diluted weighted average shares outstanding of ~448 mln.