Under Armour (NYSE:UA) earnings for the athletic wear company’s fourth quarter of 2019 have UA stock taking a beating on Tuesday. This comes after reporting adjusted earnings per share of 10 cents. That matches Wall Street’s estimate for the quarter. On the other hand, revenue of $1.44 billion misses analysts’ estimates of $1.47 billion.
Here’s what else is worth mentioning from the most recent Under Armour earnings report.
- Adjusted per-share earnings are up 11.11% from 9 cents in the fourth quarter of 2018.
- Revenue comes in 3.60% higher than the $1.39 billion from the same time last year.
- Operating income of $74.04 million is a switch from -$10.45 million during Q4 of the previous year.
- The Under Armour earnings report also includes a net loss of -$15.30 million.
- That’s worse off than its net income of $4.22 million from the same period of the year prior.
Patrik Frisk, Chief Executive Officer of Under Armour, said this about the UA stock earnings report:
“Ongoing demand challenges and the need to drive greater efficiencies in our business requires us to further prioritize our investments to put our company in the best position possible to achieve sustainable, profitable growth over the long-term.”
The Under Armour earnings report also includes its outlook for the full year of 2020. This has it expecting diluted earnings per share of 10 cents to 13 cents. That’s well below Wall Street’s estimate of 47 cents for the year. UA notes that it is expecting a negative impact due to the coronavirus from China.
UA stock was down 17.16% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.