UAA - Under Armour EPS beats by $0.12 beats on revenue

Under Armour (UAA): Q1 Non-GAAP EPS of $0.16 beats by $0.12; GAAP EPS of $0.17 beats by $0.18.Revenue of $1.26B (+35.4% Y/Y) beats by $130M.Gross margin rate +370 bps to 50% vs. 48.2% consensus.For FY2021, the company expects revenue to be up at a high-teen percentage rate and adjusted EPS of $0.28 to $0.30 vs. consensus of $0.20."Under Armour is off to an excellent start for the year. Our first-quarter results demonstrate that our improved operating model and investments we're making to amplify our connection with consumers are enabling us to deliver against strong demand for our brand," said Under Armour President and CEO Patrik Frisk. "Additionally, with a solid balance sheet and well-managed inventory, we're confident in our ability to drive well through 2021 as we get back on offense and make measured progress to returning to sustainable, profitable growth over the long-term."Shares +4% PM.Press Release

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Under Armour EPS beats by $0.12, beats on revenue