Under Armour Inc. UA, +1.00% UAA, +0.99% stock plummeted 14.8% in Tuesday premarket trading after the athletic apparel company reported fourth-quarter earnings and revenue that missed expectations and gave weak guidance. Net losses were $15.3 million, or 3 cents per share, after net income of $4.2 million, or a penny per share, last year. Revenue of $1.44 billion was up from $1.39 billion the previous year. The FactSet consensus was for EPS of 10 cents and revenue of $1.46 billion.
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After China smartphone supply chain taking an obvious hit, the virus impact also starts to spread to impact non-tech production and supply chains. UnderArmour down 16% on slowdown, who is next?
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