Under Armour reports Q2 fiscal 2024 results, focuses on long-term growth
Investing.com | Editor Hari G
Published Nov 08, 2023 13:10
Under Armour (NYSE:UA) (NYSE:UAA) released its unaudited financial results for the second quarter of fiscal year 2024 today. The Baltimore-based company's report adheres to US GAAP standards and includes non-GAAP "currency neutral" measures under "Non-GAAP Financial Information."
The company's strategic approach involves maintaining short-term profitability while investing in talent, systems, and processes to foster long-term top-line growth. This balanced strategy reflects Under Armour's commitment to sustainable performance and future expansion.
The financial data was sourced from Barchart Market Data Solutions, Morningstar, Zacks Investment Research, and SEC filings from Edgar Online. While the information was presented without any guarantees of accuracy or completeness, it provides a comprehensive view of Under Armour's financial standing for the period ending September 30, 2023.
This announcement underscores Under Armour's commitment to transparency and accountability in its financial reporting. It also highlights the company's focus on strategic investments that are designed to drive long-term growth and profitability.
h2 InvestingPro Insights/h2Under Armour's financial future seems promising, as suggested by several InvestingPro Tips. The company is currently trading at a low earnings multiple, which could indicate that the stock is undervalued. Also, its liquid assets surpass short-term obligations, suggesting that it has a healthy liquidity position. Furthermore, analysts predict that Under Armour will be profitable this year, which is an encouraging sign for potential investors.
InvestingPro's real-time data supports these insights. Under Armour's market cap stands at $3100M with a P/E ratio of 7.79, reinforcing the low earnings multiple tip. The company's revenue for the last twelve months as of Q1 2024 is $5871.59M with a gross profit of $2626.88M, indicating a robust financial performance.
For a more comprehensive understanding of Under Armour's financial health and investment potential, consider exploring the additional InvestingPro Tips and data metrics available. These can offer valuable insights that can guide your investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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