Under Armour’s Shares Surge as Restructuring Shows Progress

Under Armour Inc. reported results that exceeded analysts’ expectations and raised its guidance as the athletic-wear brand shows signs of improvement under returning founder Kevin Plank.

The company, in the midst of a restructuring effort, raised its annual forecast for adjusted earnings per share to as much as 22 cents a share. Analysts expected 20 cents.

“There’s not a lot of high-fives yet, but there’s definitely a sense of what…