Under Armour earnings for the first quarter of 2019 have UA stock heading higher on Thursday.
Under Armour (NYSE:UA) starts off its earnings report for the first quarter of the year with earnings per share of 5 cents. This is up from the company’s flat earnings per share from the same time last year. It was also a boon to UA stock by being better than Wall Street’s flat earnings per share estimate for the quarter.
Net income reported in the Under Armour earnings release for the first quarter of 2019 comes in at $22.48 million. This is much better than the company’s net loss of $30.24 million reported in the first quarter of 2018.
The Under Armour earnings report for the first quarter of the year has operating income coming in at $35.26 million. That’s an increase over the athletic wear company’s operating loss of $28.66 million from the same period of the year prior.
Under Armour earnings for the first quarter of 2019 also include revenue of $1.20 billion. This is an improvement from the company’s revenue of $1.19 billion reported in the first quarter of the previous year. It was also good news for UA stock by coming in above analysts’ revenue estimate of $1.19 billion for the period.
The most recent Under Armour earnings report also sees the company updating its outlook for 2019. It now expects earnings per share for the year to range from 33 cents to 34 cents. It was previously expecting earnings per share to be between 31 cents and 33 cents. Wall Street is looking for earnings per share of 35 cents in 2019.
UA stock was up 3% as of Thursday afternoon.
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As of this writing, William White did not hold a position in any of the aforementioned securities.