RTTNews | Aug 3, 2021 07:51AM EDT

07:50 Tuesday, August 3, 2021 (RTTNews.com) - Under Armour, Inc. (UA, UAA) reported better than expected second-quarter results. The company increased its full-year outlook, which puts it on track to achieving a solid performance in 2021.

For the full year, the company now expects adjusted earnings per share in a range of $0.50 to $0.52, revised from prior guidance range of $0.28 to $0.30 per share. Revenue is anticipated to be up at a low twenties percentage rate compared to the previous guidance of a high-teens percentage rate increase.

For the third quarter, the company projects adjusted income per share in a range of $0.13 to $0.15. The company expects to recognize approximately $40 million to $50 million in charges related to the Restructuring Plan in the third quarter.

Second-quarter adjusted earnings per share was $0.24. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.05, for the quarter.

Revenue was up 91 percent to $1.4 billion (up 85 percent currency neutral) compared to the prior year. Analysts expected revenue of $1.21 billion, for the quarter.

Shares of Under Armour were up 5% in pre-market trade on Tuesday.

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