Under Armour Q1 Earnings Meet Expectations

reported in-line earnings for the first quarter on Tuesday. For 2015, Under Armour lifted its revenue outlook to $3.78 billion, versus $3.76 billion. Analysts had expected revenue of $3.82 billion. The Baltimore, Maryland-based company posted a quarterly profit of $11.7 million, or $0.05 per share, versus a year-ago profit of $13.5 million, or $0.06 per share. Its sales surged 25 percent to $804.9 million. However, analysts were expecting earnings of $0.05 per share on revenue of $802.53 million. Its apparel revenue gained 21 percent to $555 million, while footwear revenue surged 41 percent to $161 million. Accessories net revenue gained 23 percent to $63 million. International revenue jumped 74 percent in the quarter, while Direct-to-Consumer net revenue surged 21 percent year-over-year. The average estimate among 94 Estimize users was for earnings of $0.07 per share and revenue of $818.69 million. Kevin Plank, Chairman and CEO of Under Armour, Inc., stated, "We reached an important milestone to start 2015 with our 20th straight quarter above 20% net revenue growth. This represents five years of consistently exceeding the demands of our athletes and just as importantly, anticipating what those demands will be next. While the 25% growth achieved in the first quarter was a great start to the year, we are even more excited with the foundation we are establishing for future growth." Under Armour shares fell 2.75 percent to $85.35 in pre-market trading.