Sector • Consumer Discretionary Industry • Apparel, Footwear & Accessories |
Industry • Apparel, Footwear & Accessories |
Sector • Consumer Discretionary |
Tax Benefit of $147.77 Million Boosts Under Armour Inc's Q4 Earnings and Revenue Growth
A $147.77 million in tax refund, supported Under Armour Inc to present $0.38 eps in the fourth quarter of 2023 earnings season
Published May 25 2023 / Modified May 25 2023
CSIMarket Team / CSIMarket.com
Recently, Under Armour Inc, a leading apparel, footwear, and accessories company, has released its Q4 financial results and they are quite impressive.
Compared to the same quarter last year, Under Armour Inc has shown significant improvement.
Their earnings per share (EPS) grew by 68.07% to $0.38, and their revenue grew by -8.52% to $1.40 billion.
However, it is worth noting that in the previous quarter, the company realized revenue of $1.58 billion and a bottom line of $0.27 per share.
Net profits of $170.545 million in the fourth quarter of 2023 earnings season increased by 55.53% from net earnings of $109.657 million reported in the fourth quarter of 2023 earnings season a year ago.
Although the operating margin fell to 2.52%, the company's net margin actually improved to 12.19%.
It is important to keep in mind that the company's earnings rise was largely supported by a $147.77 million tax benefit.
Excluding this, the fourth quarter of 2023 recent numbers should be much more moderate.
Operating earnings fell by -59.06% to $35.259 million, causing Under Armour Inc's operating margin to drop to 2.52% from 5.63% in the fourth quarter of 2021.
Looking further into the company's results for the fiscal year 2023, Under Armour Inc reported revenue of $5.90 billion and earnings of $386.77 million.
The company also noted that income improved by 9.09% to $0.84 per share from $0.77 in the previous fiscal year.
Additionally, revenue increased by 3.87% from $5.68 billion a year ago.
Overall, Under Armour Inc's recent financial results signify a significant improvement, despite the industry's challenging conditions.
Although there are some areas in which the company needs to improve, investors are optimistic about the company's future.
The company is expected to release its next financial results on August 03, 2023, and many are eagerly awaiting to see what the future holds for Under Armour.
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Earnings propelled by $147.77 million tax benefit
Strong results by in the second quarter of 2023
Solid advance at in the fourth quarter of 2021 earnings season
Looking into third quarter of 2017 effort, the company*s reported that revenue decreased slightly
Other UA's news
Under Armour*s Leadership Reinforcement and Financial Triumphs Point Towards a Resilient Future
Under Armour Inc*s Profits Surge by 26.32% in Q3 2023, Boosting Fiscal Performance
Under Armour Inc Faces Uphill Battle as Q1 2024 Results Reflect Struggles in Revenue Generation
Earnings propelled by $147.77 million tax benefit
Strong results by in the second quarter of 2023
Solid advance at in the fourth quarter of 2021 earnings season
Looking into third quarter of 2017 effort, the company*s reported that revenue decreased slightly