While Under Armour has achieved a notable improvement in gross margin and cost management, these positive strides are overshadowed by significant revenue declines across key regions and channels, particularly in North America and APAC. The brand faces challenges in revitalizing its DTC and e-commerce channels amid a competitive and promotional landscape. Additionally, the uncertainty surrounding trade policies adds further complexity to the company's turnaround efforts.

Company Guidance -

Q1 2026

In the fourth quarter of fiscal 2025, Under Armour exceeded its initial outlook, with gross margin being a significant metric benefiting from strategies such as reducing promotions in direct-to-consumer (DTC) businesses. Revenue for the quarter was down 11% to $1.2 billion, with notable regional performance, including an 11% decline in North America and a 2% decrease in EMEA, while revenue in APAC fell 27%. The company reported a gross margin increase of 170 basis points year-over-year to 46.7%, largely due to supply chain efficiencies, pricing benefits, and favorable foreign currency impacts. SG&A expenses were up 1% to $607 million, with adjusted SG&A showing an increase of 7%. Under Armour also reported an operating loss of $72 million, with adjusted diluted loss per share at $0.08. Inventory was down 1% year-over-year, and the company ended the quarter with $501 million in cash and no outstanding amounts on its revolving credit facility. Looking ahead, Under Armour anticipates a 4% to 5% revenue decline in the first quarter of fiscal 2026, driven by softness in the North American market and ongoing efforts to limit promotional activities.

Gross Margin Expansion

Fourth quarter gross margin increased 170 basis points year-over-year to 46.7%, driven by supply chain benefits and reduced promotions.

SG&A Cost Management

SG&A expenses increased by only 1% to $607 million in the fourth quarter, with adjusted SG&A up 7%, reflecting cost management efforts and reduced consulting expenses.

Restructuring Savings

The fiscal 2025 restructuring plan has saved $35 million in fiscal '25, with expected run-rate savings of $75 million by fiscal '26 end.

Brand and Product Initiatives

Introduction of new premium product lines such as the Halo collection, and successful product launches like the Velociti Elite running shoe.

EMEA Performance

EMEA region remained flat on a currency-neutral basis, showing resilience despite overall revenue decline.

Under Armour (GB:0R2I) Earnings, Revenues Date & History

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GB:0R2I Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 06, 2025	2026 (Q1)	0.03 / -	0.01	―	―	―
May 13, 2025	2025 (Q4)	-0.08 / -0.08	0.11	-172.73% (-0.19)	―
Feb 06, 2025	2025 (Q3)	0.04 / 0.08	0.19	-57.89% (-0.11)	―
Nov 07, 2024	2025 (Q2)	0.19 / 0.30	0.24	25.00% (+0.06)	―
Aug 08, 2024	2025 (Q1)	-0.08 / 0.01	0.02	-50.00% (-0.01)	―
May 16, 2024	2024 (Q4)	0.08 / 0.11	0.18	-38.89% (-0.07)	―
Feb 08, 2024	2024 (Q3)	0.11 / 0.19	0.16	18.75% (+0.03)	―
Nov 08, 2023	2024 (Q2)	0.20 / 0.24	0.2	20.00% (+0.04)	―
Aug 08, 2023	2024 (Q1)	-0.02 / 0.02	0.03	-33.33% (>-0.01)	―
May 09, 2023	2023 (Q4)	0.15 / 0.18	-0.01	1900.00% (+0.19)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GB:0R2I Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 13, 2025	$6.10	$6.17	+1.15%
Feb 06, 2025	$8.25	$7.79	-5.65%
Nov 07, 2024	$8.88	$11.55	+29.97%
Aug 08, 2024	$6.57	$7.73	+17.65%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.