Under Armour Inc. UA, +3.31% UAA, +3.23% shares jumped 5.4% in Tuesday premarket trading after the athletic company reported second-quarter earnings that far exceeded expectations and raised its 2021 guidance. Net income totaled $59.2 million, or 13 cents per share, after a loss of $182.9 million, or 40 cents per share, last year. Adjusted EPS of 24 cents blew past the FactSet consensus for 6 cents. Revenue of $1.352 billion was up from $707.6 million last year and ahead of the FactSet consensus for $1.218 billion. Under Armour is now guiding for revenue growth in a low-20 percentage rate compared with previous guidance for high-teens percentage rate. EPS is expected to be 14 cents to 16 cents up from previous guidance for 2 cents to 4 cents. And adjusted EPS is expected to be 50 cents to 52 cents, up from prior guidance for a range of 28 cents to 30 cents. The FactSet consensus is for revenue of $5.346 billion, implying 19.5% growth, and EPS of 35 cents. Under Armour shares have gained 23% for the year to date while the S&P 500 index SPX, -0.18% is up 16.8% for the period.
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