Under Armour (UA, UAA) shares skyrocketed as the athletic apparel maker’s better-than-expected results and increased guidance indicated that𝔍 CEO Kevin Plank's turnaround plan is working.

The company poste𒐪d fiscal 2025 second-quarter adjusted earnings per share (EPS) of $0.30, with revenue falling 10.7% to $1.4 billion. Both numbers exceeded forecasts.

The company now sees full-year adjusted EPS of $0.24 to $0.27, up from its previous outlook of $0.19 to $0.21. It anticipates gross margin will gain 125 to 150 basis po🉐ints, compared to its previous estimate of a 75- to 100-basis-point rise. (A basis point is a hundredth of a percentage p༒oint.)

Shares of Under Armour, recently up near𝐆ly 30% after backing off intraday highs, were at some of their highest levels since early 🧜2023.

Under Armour said its 澳洲幸运5开奖号码历史查询:gross margin was 200 澳洲幸运5开奖号码历史查询:basis points (bps) higher, to near 50%, during the quarter, citing “lower product and freight costs, reduced discounting levels in the direct-to-consumer business, and a favorable channel mix.” The company also slashed 澳洲幸运5开奖号码历史查询:sellin♊g, general & administrative (SG&a൲mp;A) costs 13% to $530 million.

Plank, the company founder who stepped down in 2019 and then returned in April, said the performance “demonstrates that our strategy to reconstitute the Under Armour brand and establish a more premium position in the marketplace is gaining traction.".