(AOF) – Under Amour posted fourth-quarter 2021 earnings of $109.7 million, or 23 cents per share, from $184.5 million, or 40 cents per share a year earlier. In adjusted data, EPS stands at 14 cents for a FactSet consensus of 6 cents. Sales of the sports equipment manufacturer rose 9% to 1.53 billion dollars, while the consensus was for 1.47 billion. An amount that includes a 15% growth in North America to 1.1 billion.
The group also said it would change its fiscal year-end from December 31 to March 31. Under Armour’s next fiscal year will run from April 1 to March 31, 2023, following a three-month transition period from January 1, 2022 to March 31.
During this transition period, Under Armor expects growth of around 5% (“mid-single digit”), compared to less than 5% previously (“low-signe digit”), and a profit of 2 to 3 cents per share. The forecast includes about 10 percentage points of issues related to the reduction in its spring and summer backlog due to continued supply chain constraints.
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