Under Armour reported fourth-quarter earnings and sales that beat analysts’ expectations. However, supply chain constraints weigh on its projection.
Adjusted earnings came in at 14 cents , well ahead of 7 cents expected by analysts polled by Refinitiv.
Revenue of $1.53 billion also topped the Street estimates of $1.47 billion.
Net revenue in North America grew +15% year-over-year . International sales rose +3%. E-commerce sales increased +4% from the year-ago period.
Following a three-month transition period from Jan. 1, 2022, to March 31, the company expects sales to increase by a mid-single-digit rate, compared with a prior forecast for a low-single-digit increase. Supply chain constraints are restricting the amount of spring and summer products it can offer, thereby potentially pressuring sales. It expects earnings for that period to be in a range of 2 cents to 3 cents a share.