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Avis Budget and Under Armour shares popped after Q3 results surpassing estimates.

Avis Budget Popped 212% with multiple fuses in morning trading after Q3 earnings and revenues surpassing estimates.

Avis Budget Group reported quarterly earnings of $10.74 per share which beat the analyst consensus estimate of $6.50 by 65.23 percent. This is a 850.44 percent increase over earnings of $1.13 per share from the same period last year. The company reported quarterly sales of $3.00 billion which beat the analyst consensus estimate of $2.72 billion by 10.33 percent. This is a 95.63 percent increase over sales of $1.53 billion the same period last year.

Under Armour shares spiked 17% on Q3 earnings beat, raised FY21 outlook.

• Under Armour Inc  reported third-quarter FY21 sales growth of 7.9% year-on-year, to $1.55 billion, beating the analyst consensus of $1.48 billion.
• Wholesale revenue increased 10% Y/Y to $911 million, and direct-to-consumer revenue rose 12% to $604 million.
• Apparel revenue grew 14% Y/Y, Footwear climbed 10%, while Accessories revenue decreased 13%.
• The gross profit rose 15% Y/Y to $788 million, and the gross margin increased 310 basis points Y/Y to 51%.
• The operating margin expanded 700 basis points to 11.1%, and operating income for the quarter nearly tripled to $172 million.
• The company held $1.3 billion in cash and equivalents as of September 30, 2021. Cash provided by operating activities for the nine months totaled $209.8 million.
• Adjusted EPS of $0.31 beat the analyst consensus of $0.10.
• Outlook: Under Armour raised FY21 sales growth outlook to about 25% Y/Y (prior view low 20% range).
• The company raised the FY21 adjusted EPS outlook to about $0.74 (prior view $0.50 - $0.52).