RTTNews | Nov 2, 2021 07:41AM EDT

07:41 Tuesday, November 2, 2021 (RTTNews.com) - While reporting third-quarter results on Tuesday, Under Armour, Inc. (UA, UAA) increased its full year outlook. The company said it is on track to deliver record revenue and earnings results in 2021.

For 2021, the company now expects adjusted earnings per share to reach approximately $0.74 compared to the previously expected range of $0.50 to $0.52 per share. Diluted earnings per share is expected to reach approximately $0.55 compared to the prior guidance of $0.14 to $0.16.

The company now expects 2021 revenue to be up approximately 25 percent compared to the previous expectation of a low-twenties percentage increase, reflecting a high-twenties percentage growth rate in North America and a mid-thirties percentage growth rate in the international business.

Third quarter adjusted earnings per share was $0.31. Net profit was $113.44 million or $0.24 per share compared to $38.95 million or $0.09 per share. Revenue was up 8 percent to $1.5 billion, or up 6 percent currency neutral.

Shares of Under Armour were up 9% in pre-market trade on Tuesday.

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