Under Armour | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 1.134 B

Revenue: As of FY2026 Q1, the actual value is USD 1.134 B, beating the estimate of USD 1.132 B.

EPS: As of FY2026 Q1, the actual value is USD -0.01, missing the estimate of USD 0.0128.

Segment Revenue

• Total Revenue: Declined 4% to $1.1 billion, with North American revenue decreasing 5% to $670 million and international revenue declining 1% to $467 million.
• Wholesale Revenue: Decreased 5% to $649 million.
• Direct-to-Consumer Revenue: Fell 3% to $463 million, with eCommerce revenue declining 12%.
• Apparel Revenue: Decreased 1% to $747 million.
• Footwear Revenue: Declined 14% to $266 million.
• Accessories Revenue: Increased 8% to $100 million.

Operational Metrics

• Gross Margin: Increased 70 basis points to 48.2% due to favorable foreign exchange, pricing, and product mix.
• Selling, General, and Administrative Expenses: Decreased 37% to $530 million, with adjusted expenses down 6% to $522 million.
• Operating Income: $3 million, with adjusted operating income at $24 million.
• Net Loss: $3 million, with adjusted net income at $9 million.

Cash Flow

• Cash and Cash Equivalents: Totaled $911 million, including $400 million in senior notes raised during the quarter.

Unique Metrics

• Inventory: Increased 2% to $1.1 billion.

Outlook / Guidance

• Revenue: Expected to decline 6 to 7% in the second quarter of fiscal 2026, with a low-double-digit percent decrease in North America and high-single-digit percent growth in EMEA.
• Gross Margin: Expected to decline 340 to 360 basis points due to supply chain headwinds and tariffs.
• Operating Income: Forecasted to range from a $10 million loss to breakeven, with adjusted operating income expected between $30 million and $40 million.