UAA - Under Armour Non-GAAP EPS of $0.03 in-line revenue of $1.35B beats by $20M
- Under Armour press release ( NYSE: UAA ) ( UA ): Q1 Non-GAAP EPS of $0.03 in-line.
- Revenue of $1.35B (flat Y/Y) beats by $20M .
- FY2023 Outlook : No change to the previous expectation of 5 to 7 percent revenue growth vs. consensus growth of 5.74%. Excluding approximately 200 basis points of anticipated foreign currency headwinds, currency-neutral revenue is expected to be up 7 to 9 percent.
- Gross margin is expected to be down 375 to 425 basis points compared to the previous expectation of a 150 to 200 basis point decline compared to the baseline period's gross margin of 49.6 percent.
- Operating income is expected to reach $300M to $325M compared to the previous range of $375M to $400M. Excluding an expense related to ongoing litigation matters, adjusted operating income is expected to reach $310M to $335M.
- Diluted earnings per share is expected to be $0.61 to $0.67 compared to the previous expectation of $0.79 to $0.84. Adjusted diluted earnings per share is expected to be $0.47 to $0.53, compared to the previous expectation of $0.63 to $0.68 and consensus of $0.61.
- Capital expenditures are expected to be approximately $225M, consistent with the previously provided range of 3% to 5% of revenue.
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Under Armour Non-GAAP EPS of $0.03 in-line, revenue of $1.35B beats by $20M