Under Armour Stock Price, News & Analysis

Under Armour, Inc. (NYSE: UA, UAA) is set to release its third quarter fiscal 2023 results on February 8, 2023, at 6:55 a.m. ET. The report will cover the period ending December 31, 2022. Following the release, a conference call will be hosted by Under Armour management at approximately 8:30 a.m. ET to discuss the earnings results. Investors can access the live webcast and archived information via the company's financial page.

Under Armour, headquartered in Baltimore, Maryland, specializes in branded athletic performance apparel, footwear, and accessories, designed to enhance human performance.

Under Armour announced the appointment of Stephanie Linnartz as President and CEO, effective February 27, 2023. Previously the president of Marriott International, Linnartz is recognized for her strategic leadership in digital transformation and brand growth. Under Armour's Executive Chair, Kevin Plank, expressed confidence in her ability to enhance the company's market opportunities. Following her appointment, Colin Browne, the interim CEO since June 2022, will transition back to his role as COO, continuing to support the leadership team.

Under Armour (NYSE: UA, UAA) announced that Wes Moore has resigned from its Board of Directors, effective immediately, due to his election as governor of Maryland. Kevin Plank, Executive Chair, expressed gratitude for Moore's leadership and contributions since joining the board in October 2020. Moore was also a member of the Corporate Governance and Sustainability Committee. His departure marks a notable change in Under Armour's leadership structure, prompting questions about potential impacts on the company's strategic direction.

Under Armour reported unaudited financial results for Q2 FY2023, with revenue reaching $1.6 billion, up 2% year-over-year. Wholesale revenue rose 4% to $948 million, while direct-to-consumer revenue fell 4% to $577 million. Net income was $87 million, and diluted EPS stood at $0.19. The company expects revenue growth to be revised to a low single-digit percentage due to a challenging retail environment, with adjusted EPS projected to be $0.44 to $0.48.

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.

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.