The earnings call presented a mix of positive and negative developments. While there were achievements such as strong performance in the EMEA region and gross margin improvement, the overall sentiment is overshadowed by challenges in key markets like North America and APAC, significant declines in footwear revenue, and substantial tariff impacts.

Company Guidance

During the Under Armour Q1 2026 earnings call, the company provided guidance on several key metrics, reflecting its strategic focus on brand reinvention and operational discipline. Revenue for the first quarter declined by 4% to $1.1 billion, with North America experiencing a 5% decline due to reduced wholesale and e-commerce sales, while EMEA saw a 10% increase driven by strong wholesale performance. The company highlighted its gross margin improvement of 70 basis points to 48.2%, attributed to favorable currency impacts and pricing benefits, partially offset by supply chain headwinds. SG&A expenses decreased by 37% to $530 million, reflecting cost management efforts amidst restructuring. Looking ahead, Under Armour expects fiscal 2026 operating income to be approximately half of fiscal 2025 levels due to $100 million in tariff-related costs impacting gross margins by about 200 basis points. The focus remains on premium brand positioning, SKU reduction, and strategic pricing adjustments to enhance long-term shareholder value despite a challenging competitive and macroeconomic environment.

EMEA Region Outperformance

EMEA revenue increased 10% year-over-year, or 6% adjusted for currency fluctuations, with growth across all channels, led by full price wholesale business.

Gross Margin Improvement

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

Licensing Revenue Growth

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

Apparel Revenue Stability

Despite challenges, apparel revenue declined only 1%, with strength in training sportswear offsetting softness in other categories.

Digital Engagement and NPS Improvement

The e-commerce Net Promoter Score increased by 18 points year-over-year to nearly 70, indicating improvements in customer experience.

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.