Under Armour cuts outlook again and shares plunge

BALTIMORE — Under Armour is cutting its annual outlook again, sending shares plunging 12 percent before the opening bell.

The Baltimore company posted a profit of $54.2 million, or 12 cents per share, Tuesday. Earnings, adjusted for restructuring costs, came to 22 cents per share, which was actually 3 cents better than Wall Street had expected, according to a survey by Zacks Investment Research. Revenue of $1.41 billion, however, is shy of badyst projections for $1.49 billion.

Under Armour Inc., more importantly, lowered its annual per-share earnings forecast to between 18 cents and 20 cents per share, about half what it told investors to expect in August.

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This story was generated by Automated Insights (https://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UAA at https://www.zacks.com/ap/UAA

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