The earnings call highlighted progress in certain regions such as EMEA, improvements in gross margin, and effective cost management through SG&A reductions. However, these positives were overshadowed by revenue declines in key markets, significant challenges in the footwear segment, and the impact of new tariffs on profitability. The sentiment reflects a company in transformation, facing both external macro challenges and internal strategic shifts.

Company Guidance -

Q3 2026

During the Under Armour Q1 2026 earnings call, CEO Kevin Plank provided guidance emphasizing a strategic transformation aimed at boosting brand health and long-term shareholder value. Under Armour is focusing on simplifying operations by reducing SKUs by 25% and cutting materials by 30% for the 2025 product lineup, with plans for further reductions in 2026. The brand is adopting a new category management operating model to enhance product execution and pricing, aiming to elevate average selling prices (ASPs) across key items. Despite facing challenges from additional tariff costs estimated at $100 million for fiscal 2026 and softer demand, the company remains committed to strengthening its brand, particularly in North America, APAC, and EMEA regions. The call also highlighted a focus on enhancing digital engagement, improving the DTC experience, and leveraging AI for more efficient operations. Adjusted operating income for fiscal 2026 is expected to be about half of the previous year’s due to these pressures, but the company remains optimistic about future growth driven by strategic investments and improved brand positioning.

EMEA Outperformance

EMEA revenue increased by 10% or 6% after adjusting for foreign currency fluctuations, indicating steady growth across all channels during the quarter.

Gross Margin Improvement

First quarter gross margin increased by 70 basis points year-over-year to 48.2%, driven by favorable foreign currency impacts, pricing benefits, and favorable product mix.

Licensing Revenue Growth

Licensing revenues increased by 12% with growth in both North American and international licensees.

SG&A Expense Reduction

SG&A expenses decreased by 37% to $530 million in the first quarter, driven by lower marketing and savings across various areas, resulting from the restructuring plan and ongoing cost management efforts.

Under Armour (UA) Earnings, Revenues Date & History

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UA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 05, 2026	2026 (Q3)	- / -	0.08	―	―	―
Aug 09, 2025	2026 (Q1)	0.02 / 0.02	0.01	100.00% (+0.01)	―
May 13, 2025	2025 (Q4)	-0.08 / -0.08	0.11	-172.73% (-0.19)	―
Feb 06, 2025	2025 (Q3)	0.03 / 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)	―

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

UA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 13, 2025	$5.89	$5.99	+1.70%
Feb 06, 2025	$7.38	$7.04	-4.61%
Nov 07, 2024	$8.06	$9.94	+23.33%
Aug 08, 2024	$6.27	$7.42	+18.34%

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.