The earnings call reflects a company in transition, focusing on strategic restructuring and product innovation to regain market position. While there are significant achievements in gross margin improvements and EMEA performance, challenges remain, particularly in revenue declines across regions. The sentiment is cautiously optimistic but acknowledges the need for continued effort.

Company Guidance

During the fourth quarter of fiscal 2025, Under Armour exceeded its outlook, achieving a gross margin increase of 170 basis points to 46.7%, driven by 150 basis points from lower product and freight costs and 80 basis points from reduced discounting and promotions. Despite an 11% decline in revenue to $1.2 billion, the company exceeded or met its initial fiscal year outlook for every line item. North American revenue decreased by 11%, primarily due to lower e-commerce sales, while EMEA's revenue decreased by 2%, staying flat on a currency-neutral basis. APAC experienced a 27% decline in revenue due to a competitive environment, and Latin America's revenue fell by 10%, though it rose by 3% on a currency-neutral basis. Under Armour's SG&A expenses increased by 1% to $607 million in the quarter, with adjusted SG&A up 7% due to higher marketing and incentive compensation expenses. The company reported an operating loss of $72 million, with an adjusted operating loss of $36 million. Looking forward, Under Armour plans to navigate tariff challenges and expects first-quarter fiscal 2026 revenue to decline by 4% to 5%, with a gross margin expansion of 40 to 60 basis points and adjusted operating income of $20 million to $30 million.

Exceeded Fiscal '25 Outlook

Despite a decline in revenue, Under Armour exceeded its fiscal '25 outlook, demonstrating foundational traction as the brand is repositioned.

Gross Margin Improvement

The fourth quarter gross margin increased by 170 basis points year-over-year to 46.7%, driven by supply chain benefits and lower discounting.

Successful Restructuring Efforts

Under Armour recognized $89 million in restructuring charges and related transformation expenses, with expectations for total charges to remain within $140 million to $160 million.

Strong Performance in EMEA

EMEA remained flat on a currency-neutral basis and was the top-performing region for fiscal '25, showing strong partnerships and category focus.

Product Innovation and Brand Strategy

Introducing new collections like the SlipSpeed ECHO and the upcoming Halo collection, focusing on fewer, high-quality products to elevate the brand.

Under Armour (UA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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UA 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)	0.03 / 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)	―
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

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.