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Under Armour profit misses consensus by 20.9% in Q2


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Under Armour profit misses consensus by 20.9% in Q2

Under Armour Inc. said its normalized net income for the second quarter was 2 cents per share, compared with the S&P Capital IQ consensus estimate of 2 cents per share.

EPS decreased 61.7% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.7 million, a decrease of 61.5% from $17.3 million in the prior-year period.

The normalized profit margin dropped to 0.7% from 2.2% in the year-earlier period.

Total revenue climbed 27.7% on an annual basis to $1.00 billion from $783.6 million, and total operating expenses increased 30.6% from the prior-year period to $981.4 million from $751.7 million.

Reported net income came to a loss of $53.1 million, or a loss of 12 cents per share, compared to income of $13.2 million, or 3 cents per share, in the year-earlier period.