UAA - Under Armour GAAP EPS of $0.02 beats by $0.05 revenue of $1.32B beats by $30M

2023-08-08 06:57:13 ET

• Under Armour press release ( NYSE: UAA ): Q1 GAAP EPS of $0.02 beats by $0.05 .
• Revenue of $1.32B (-2.2% Y/Y) beats by $30M .

• Fiscal 2024 Outlook

• Revenue is expected to be flat to up slightly.
• Gross margin is expected to be up 25 to 75 basis points compared to the prior year's rate of 44.9 percent, driven by supply chain tailwinds related to lower freight costs, partially offset by mix impacts related to higher off-price revenue and higher promotions expected in the company's direct-to-consumer business.
• Selling, general & administrative expenses are expected to be flat to up slightly.
• Operating income is expected to reach $310 million to $330 million.
• Effective tax rate is expected to be in the low twenties percentage range.
• Diluted earnings per share is expected to be between $0.47 and $0.51.
• Capital expenditures are expected to be between $250 million and $270 million.

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