Under Armour Inc. updated its guidance for fiscal 2018 as the company reported its projections for 2019 and presented a five-year strategic growth plan at an investor meeting Dec.12.
The company increased its estimate for adjusted operating income for fiscal 2018 to a range of $160 million to $165 million from the previously expected $150 to $165 million range. Adjusted EPS was also slightly updated to a range of 21 cents to 22 cents, compared to the previous forecast of 19 cents to 22 cents, excluding the impact of restructuring efforts.
For full year 2019, the company said it expects earnings per share ranging from 31 cents to 33 cents and a 3% to 4% increase in revenue due to relatively flat results in North America. The company forecasts an operating income between $210 million and $230 million.
Under Armour's five-year growth plan is expected to help the EPS grow at a five-year compounded annual growth rate of approximately 40%. The company also expects to return to a low double-digit revenue growth rate by 2023.