For the third quarter ended September 30, 2021, the company reported unaudited financial results. These results are presented in accordance with Generally accepted accounting principles in the US. UA stock rises with stability to the price of $20.73 in today’s pre-market, marking an 8.93% increase. Strong demand for Under Armour’s products and the company’s ability to execute quickly to meet customer needs drove third-quarter results.
In April 2020, Under Armour launched a restructuring plan to improve its profitability and cash flow. As a result, the company has recognized a total of $500 million of pre-Tax charges. These charges include $140 million of cash-related charges and a non-cash charge of $360 million. As the pandemic continues to impact various industries, Under Armour is focused on protecting its teammates and consumers while navigating the disruptions. Due to the uncertainty related to COVID-19, Under Armour’s full-year 2021 financial results could be affected by various factors, including but not limited to: the impact on its suppliers and logistics providers, as well as future periods. Net income went higher by 8% to $1.5 billion, or $0.40 per share, compared to the previous year. Under Armour, Inc. is a US-based company that designs, markets, and distributes performance apparel, shoes, and accessories. It offers various styles of performance apparel and footwear.