Under Armour down after forecasting steeper annual revenue decline

Under Armour

07/08/2026 15:23

Updates
** Shares of sportswear maker Under Armour UAA.N down as much as 10.9% at $5.70 in morning trading
** Co forecasts steeper annual revenue decline, citing weak demand in North America amid growing macroeconomic uncertainty and inflationary pressures
** Expects full-year revenue to fall by mid-single-digit percentage, compared to previous outlook of a slight decline 
** "For the second quarter, we expect a more challenging consumer environment to persist, particularly in North America," says CFO Reza Taleghani 
** Posts Q1 revenue of $1.10 billion, narrowly missing analysts' estimates of $1.11 billion - data compiled by LSEG
** Net revenue in its North American segment fell 9% in the quarter
** Maintains annual adjusted profit forecast; posts quarterly adjusted EPS of 5 cents, above expectations of 2 cents
** UAA sees total restructuring-program costs of about $305 million; expects plan completion by Dec 31, 2026
** As of last close, stock up ~29% YTD

 (Reporting by Shania S Thomas in Bengaluru)
 ((shanias.thomas@thomsonreuters.com))