Welcome to our dedicated page for Under Armour news (Ticker: UA), a resource for investors and traders seeking the latest updates and insights on Under Armour stock.
The Under Armour, Inc. Class C Common Stock (UA) news page on Stock Titan aggregates company-specific updates, earnings announcements, restructuring disclosures, and capital markets activity related to Under Armour. The company, headquartered in Baltimore, Maryland, develops, markets, and distributes branded athletic performance apparel, footwear, and accessories, and regularly communicates with investors through press releases and SEC filings.
Recent news coverage includes quarterly and annual financial results prepared in accordance with U.S. GAAP, along with non-GAAP "adjusted" and "currency neutral" metrics that management uses to discuss underlying performance. These releases provide detail on revenue by product category, channel, and geography; gross margin drivers such as tariffs, supply chain costs, and product mix; and trends in selling, general, and administrative expenses, including marketing investments and transformation costs.
Investors following UA news will also see updates on Under Armour’s fiscal 2025 restructuring plan, which is intended to improve financial and operational efficiencies. News items describe the scope of restructuring and related charges, the Board-approved expansion of the plan, and the expected timing of completion. The separation of Curry Brand from Under Armour, including commentary on the company’s global basketball business and its focus on the core UA brand, is another key topic in recent releases.
Additional news themes include share repurchase activity for Class C common stock, private offerings of senior notes and related refinancing of existing notes, and scheduled earnings conference calls and webcasts. Leadership changes, such as the planned transition in the Chief Financial Officer role, are also disclosed through press releases and corresponding Form 8-K filings. By reviewing the UA news feed, readers can track how Under Armour communicates its strategy, restructuring progress, capital allocation decisions, and executive transitions over time.
Under Armour, Inc. (NYSE: UA, UAA) will release its second quarter fiscal 2023 results on Nov. 3, 2022, at 6:55 a.m. ET. The earnings report will cover the quarter ending September 30, 2022. Following the release, management will host a conference call at approximately 8:30 a.m. ET to discuss the results. This event will be available via live webcast and later archived on their investor relations page.
Under Armour, Inc. (NYSE: UA, UAA) announced significant changes in its executive leadership team effective October 24, 2022. David Baxter will take on the role of President of the Americas, succeeding Stephanie Pugliese, who is stepping down but will assist in the transition until early 2023. Additionally, Mehri Shadman has been appointed Chief Legal Officer, succeeding John Stanton, who will retire after 16 years with the company. Both new appointees bring extensive experience, with Baxter previously leading LIDS Sports Group and Shadman serving as Deputy General Counsel at Under Armour.
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Under Armour reported its fiscal Q1 2023 results, showing flat revenue of $1.3 billion but a 2% increase on a currency-neutral basis. Wholesale revenue rose 3% to $792 million, while direct-to-consumer sales fell 7% to $521 million. Gross margin declined to 46.7%, down 280 basis points due to high freight costs and promotions. The updated outlook for fiscal 2023 maintains a revenue growth forecast of 5-7%, but gross margin is projected to decrease more than previously expected. EPS guidance is lowered to $0.61–$0.67, with adjusted EPS at $0.47–$0.53.
Under Armour, Inc. (NYSE: UA, UAA) will release its first quarter fiscal 2023 results, covering the period ended June 30, 2022, on August 3, 2022, at 6:55 a.m. ET. Following the results announcement, management will conduct a conference call at approximately 8:30 a.m. ET to discuss the findings. This financial update is crucial for investors to assess the company's performance and future outlook. For more details, the call will be webcast live and made available for later viewing on the company's investor relations page.
Under Armour reported unaudited financial results for the transition quarter ending March 31, 2022, with revenues up 3% to $1.3 billion. Wholesale revenue rose 4%, while direct-to-consumer revenue increased 1%. Gross margin decreased to 46.5% due to elevated freight expenses. A net loss of $60 million was recorded, with diluted loss per share at $0.13. For fiscal year 2023, revenue is projected to increase 5-7%, with operating income expected between $375-$400 million. The company completed its 2020 restructuring plan, recognizing $57 million in charges.
Under Armour (NYSE: UA, UAA) will release its transition quarter results for the period ending March 31, 2022, on May 6, 2022, at 6:55 a.m. ET. Following the press release, management will host a conference call at approximately 8:30 a.m. ET to discuss the results. This event will be available for live webcast on their investor relations website. Under Armour is a leading brand in athletic performance apparel, footwear, and accessories, aimed at enhancing athletic performance.
On March 7, 2022, BSN SPORTS and Under Armour announced the launch of the "Women of Will Womenar Series", a webinar initiative aimed at supporting high school women's sports. Kicking off on March 9, the series features four sessions led by notable women leaders in athletics. The program, in its fourth year, supports 320 partners with grants, apparel access, and branding benefits, emphasizing growth in female athletics. BSN SPORTS President Terry Babilla highlighted the importance of investing in women's sports during Women's History Month.
Under Armour announced it has entered into accelerated share repurchase agreements with JPMorgan Chase, Bank of America, and Citibank to repurchase $300 million of its Class C common stock. The company will pay $300 million upfront and receive an initial delivery of approximately 16.2 million shares, with remaining shares expected by May 2022. This action reflects Under Armour's commitment to returning value to shareholders, with an additional $200 million share repurchase authorization available post-completion.
Under Armour has authorized a $500 million share repurchase of its Class C common stock, effective immediately. This decision reflects the company's commitment to enhance shareholder value while preserving the financial flexibility for future growth opportunities. Repurchases may occur over the next two years through various methods, with timing and amount at management's discretion based on market conditions. CEO Patrik Frisk emphasized the buyback as a strategic means to deploy cash effectively.