The revenue miss and lowered full-year outlook outweigh the EPS beat, driven by non-recurring tariff refunds. Traders should watch for ongoing North America weakness and whether cost cuts can sustain margins. The maintained operating income guidance suggests management expects to offset revenue pressure, but execution risk is high — next quarter's DTC and wholesale trends are key.
Price Chart
Executive Summary
Under Armour reported fiscal Q1 2027 revenue of $1.098B (down 3.2% YoY to $1.098B, below $1.11B consensus) and adjusted diluted EPS of $0.05 (above $0.02 consensus), driven by gross margin expansion from IEEPA tariff refunds. The company lowered its full-year revenue outlook to mid-single-digit decline from slight decline but maintained its operating income and adjusted EPS guidance, relying on cost cuts to offset softer North America and Asia-Pacific demand.
Key Financial Metrics
Key Facts
- Revenue declined 3.2% YoY to $1.098B, below $1.11B consensus
- GAAP net income: $545K ($0.00 EPS); adjusted diluted EPS: $0.05, beating $0.02 consensus
- Gross margin expanded 590 bps to 54.1%, primarily from IEEPA tariff refunds, not underlying improvement
- Full-year revenue guidance lowered to mid-single-digit decline (from slight decline previously)
- North America revenue fell 9% to $610M; DTC revenue dropped 5.8%; eCommerce down 12%
- Full-year operating income guidance maintained at $96M-$116M, relying on expense cuts
- Restructuring plan on track: $266M incurred to date; total anticipated ~$305M
Financial Impact
Revenue shortfall of ~$12M vs consensus; maintained operating income floor, but revenue guidance cut signals ongoing demand weakness
Risk Factors
- Softer consumer demand in North America and Asia-Pacific may worsen
- DTC eCommerce decline of 12% signals brand weakness
- SGA expense increase of 2% YoY despite cost-cutting narrative
- Heavy reliance on one-time tariff refunds for margin expansion
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001336917-26-000108 |
| Document: ua-20260807.htm | 0001336917-26-000108 |
| Document: 0001336917-26-000108-index-headers.html | 0001336917-26-000108 |
| Document: 0001336917-26-000108-index.html | 0001336917-26-000108 |
| Document: 0001336917-26-000108.txt | 0001336917-26-000108 |
| 8-K Data (Synthetic) | 0001336917-26-000108 |
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|---|---|---|---|---|---|
Sep 11, 2026 21d ago | Court Ruling | $5.11 $4.88 | ▲ +4.50% | ▲ +4.28% | $4.71 (+7.83%) |
Aug 7, 2026 8w ago | 8-K | $6.11 $5.36 | ▲ +12.28% | ▲ +12.67% | $4.71 (+22.91%) |
Jul 15, 2026 11w ago | DEFA14A | $7.25 $6.74 | ▼ −7.03% | ▼ −5.36% | $4.71 (−35.03%) |
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Jul 7, 2026 12w ago | Court Ruling | $6.74 $6.61 | ▼ −1.93% | ▼ −2.48% | $4.71 (−30.12%) |
US Market Status
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