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Dad Kicks (UAA Earnings)

Under Armour (UAA) is set to report Q3 results tomorrow before the market opens and the call is scheduled for 8:30 AM ET.

Current Capital IQ consensus stands at EPS of $0.19 (vs $0.29 last year) on Revs of $1.485 bln (-1% Y/Y).

  • UAA typically provides guidance on next quarter's revs on the call:
    • Last quarter, UAA guided for Q3 revs relatively flat Y/Y vs then consensus estimate of +11.6% consensus last quarter
      • UAA also said it expects Q4 revs to be up low-mid 20% vs 16.3% expectations
  • Current Cap IQ consensus estimates Q4 EPS of $0.21 on revs of $1.53 bln (+18% Y/Y)

Despite a massive downtrend, UAA is still trading at a PE of 33x vs peers Nike (NKE 23x) and lululemon (LULU 29x).

The stock is down ~50% on the year and has sold off hard in 5 of the last 7 reports.

  1. The stock touched fresh, new lows of 15.53 today and last week's sell-off to new 52-week lows was on 1.5x average weekly volume

  2. Ultimately, the # we're most interested in is the Q4 revs guidance.


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