Under Armour stock falls as company offers weak guidance, posts unexpected loss
Under Armour on Friday reported an unexpected loss and sales below analysts’ estimates as the company grappled with global supply chain challenges and Covid lockdowns in China.
Its shares fell more than 5% in premarket trading on the news.
Here’s how the company did in the three-month period ended March 31, compared with what Wall Street was anticipating, based on a Refinitiv survey of analysts:
Loss per share: 1 cent adjusted vs. earnings of 6 cents expectedRevenue: $1.3 billion vs. $1.32 billion expected
Find the full financial release from Under Armour here.
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