Under Armour (UA) Q1 2027 Earnings
Adjusted EPS excludes $4 million in restructuring charges, $2 million in transformation-related SG&A expenses, and a $14.8 million tax provision adjustment (valuation allowance against U.S. federal deferred tax assets). GAAP diluted EPS was $0.00.
How Did UA Stock React to Q1 2027 Earnings?
S&P 500 over the same 30 days: −1.40%.
Did UA Beat Earnings? Q1 2027 Results
Under Armour posted a mixed first quarter for fiscal 2027, delivering adjusted diluted EPS of $0.05, up from $0.02 a year ago, even as revenue slipped 3.2% to $1.10 billion, just short of the $1.11 billion consensus estimate. The headline story was a dramatic 590-basis-point expansion in gross margin to 54.1%, fueled largely by refunds received on IEEPA tariff costs originally expensed in fiscal 2026, a one-time recovery benefit the company now expects to total roughly $70 million for the full year. That profitability tailwind helped lift adjusted net income to $20.99 million from $8.57 million a year ago, even as North America revenue fell 9% to $609.78 million and eCommerce slid 12%. EMEA provided a partial offset, growing 12% to $278.68 million. Looking ahead, management trimmed its full-year revenue outlook to a mid-single-digit percentage decline while holding its adjusted EPS guidance of $0.08 to $0.12, banking on disciplined cost controls, including a high-single-digit reduction in GAAP SG&A, to protect margins through continued demand softness.
- Gross margin expanded 590 basis points to 54.1%, driven primarily by IEEPA tariff cost refunds
- EMEA revenue grew 12% (10% constant currency), the strongest regional performance
- North America revenue declined 9%, the weakest regional performance
- eCommerce revenue decreased 12%, representing 29% of total DTC revenue
- Footwear was the weakest product category, declining 8%
- Wholesale outperformed DTC, declining only 2% versus 6% for DTC
- Adjusted operating income more than doubled to $52.4 million from $24.4 million year-over-year
“As we navigate a challenging consumer demand environment, we continue to make progress in building a more focused Under Armour, despite updating our full-year revenue outlook. By simplifying the business, we are operating with greater discipline and better positioned to protect profitability, while still investing in a sharper product portfolio through clearer storytelling with the goal of driving a more premium Under Armour that will consistently earn demand at full price.”
Under Armour CEO, on the earnings call
What Is Under Armour's Outlook?
Under Armour updated its fiscal 2027 outlook, now expecting revenue to decline at a mid-single-digit percentage rate (previously a slight decline), driven by softer demand in North America and Asia-Pacific. North America is now expected to decline mid-single-digit (previously low-single-digit), while both Asia-Pacific and EMEA are now expected to decline low-single-digit (previously low-single-digit increases). Gross margin is still expected to increase 220 to 270 basis points, with approximately 150 bps from IEEPA tariff refunds. GAAP operating income outlook maintained at $96 million to $116 million; adjusted operating income maintained at $140 million to $160 million. GAAP diluted loss per share now expected at $0.01 to $0.05 (previously breakeven to $0.04 loss). Adjusted diluted EPS maintained at $0.08 to $0.12. SG&A (including transformation) now expected to decrease at a high-single-digit rate. The outlook includes approximately $70 million in IEEPA tariff refund benefits and approximately $35 million in Middle East conflict-related supply chain headwinds.
UA YoY Financials
| Metric | Q1 2027 | Q1 2026 | Year over year |
|---|---|---|---|
| Revenue | $1.1B | $1.1B | −3.2% |
| Gross Profit | $593.8M | $546.5M | +8.7% |
| Operating Income | $46.7M | $3.3M | +1,306.5% |
| Net Income | $545,000 | $246,751 | +120.9% |
UA Revenue by Segment
UA Revenue by Geography
When Does Under Armour Report Next?
Figures from SEC filings and company reports. Not investment advice.