UA - Why Under Armour Stock Fell Today
Shares of Under Armour (NYSE: UA) (NYSE: UAA) were down 16.1% as of 1:30 p.m. EST Tuesday, after the performance athletic apparel and footwear company announced mixed fourth-quarter 2019 results and disappointing forward guidance.
On the former, Under Armour's quarterly revenue grew 3.7% year over year to $1.44 billion, below estimates for $1.47 billion. That translated to a net loss under generally accepted accounting principles (GAAP) of $15 million, or $0.03 per share. However, adjusted for one-time tax items and an impairment charge related to its equity investment in its Japan licensee, Under Armour would have delivered earnings of $0.10 per share -- roughly in line with consensus estimates.
IMAGE SOURCE: UNDER ARMOUR.