The earnings call presented a mix of positive developments, such as leadership changes, product innovations, and strong brand campaigns, with challenges including revenue declines in key regions and segments, tariff impacts, and gross margin pressures. The company is optimistic about future stabilization and growth, particularly in North America and APAC.

Company Guidance

During the Under Armour Q2 2026 earnings call, management provided guidance highlighting several key metrics. Revenue for the quarter declined 5% to $1.3 billion, slightly better than expected due to a 1-point timing shift benefit. North America saw an 8% revenue decline primarily due to decreases in full-price wholesale and e-commerce sales. Conversely, EMEA experienced a 12% increase, while APAC declined 14%. Gross margin fell 250 basis points to 47.3%, influenced mainly by a 275 basis point impact from higher U.S. tariffs. The company projects a full-year revenue decline of 4% to 5% and expects adjusted SG&A to decrease at a mid-single-digit rate. For Q3, Under Armour anticipates a 6% to 7% revenue decline, with a gross margin decrease of 310 to 330 basis points. The company remains focused on stabilizing its North American business, enhancing product pricing, and improving storytelling to rebuild brand momentum.

Leadership Transition

Kevin Plank announced a leadership transition with Dave Bergman stepping down as CFO, and Reza Taleghani, a seasoned finance executive, joining as the new CFO in February 2026. This transition is expected to support Under Armour's strategic growth.

Product Innovation and Strategy

Under Armour has streamlined assortments by cutting 25% of SKUs, refocused its materials library, and is prioritizing fabrics such as NEOLAST, a sustainable fiber developed to replace Lycra. The brand is aiming to increase price points through innovation and style.

Positive Brand Momentum

The 'We Are Football' campaign increased awareness among 18-34-year-olds from the mid-60s to over 80%, demonstrating strong engagement and brand awareness.

EMEA Revenue Growth

Revenue in EMEA increased by 12% (7% currency-neutral), driven by strong performance in full-price wholesale and DTC channels.

Licensing Revenue Increase

Licensing revenues increased by 17%, driven by strength in international markets.

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)	<0.01 / -	0.08	―	―	―
Nov 06, 2025	2026 (Q2)	0.02 / 0.04	0.3	-86.67% (-0.26)	―
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)	―

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
Nov 06, 2025	$4.41	$4.34	-1.59%
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%

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.