Welcome to our dedicated page for Under Armour news (Ticker: UAA), a resource for investors and traders seeking the latest updates and insights on Under Armour stock.
Under Armour, Inc. (NYSE: UAA, UA) is a Baltimore, Maryland-based manufacturer and marketer of branded athletic performance apparel, footwear, and accessories. The UAA news feed on Stock Titan aggregates the company’s press releases and market-moving updates so readers can follow how management decisions, restructuring efforts, and brand initiatives are reflected in official communications.
Company news frequently centers on quarterly and annual financial results, where Under Armour reports revenue by product category, channel, and geography, along with gross margin, operating income or loss, and net income or loss. These releases also present non-GAAP metrics such as adjusted operating income, adjusted net income, and currency-neutral performance, with explanations of how these measures differ from GAAP results.
Another recurring theme in Under Armour’s news is its fiscal 2025 restructuring plan and subsequent expansion of restructuring and transformation initiatives. Updates describe restructuring charges, transformation expenses, expected timing of remaining charges, and how these actions influence the company’s outlook for adjusted operating income and operating loss on a GAAP basis.
Investors and followers of the brand will also see announcements about capital structure and financing, including the offering and pricing of 7.250% Senior Notes due 2030 and the planned use of proceeds to address existing senior notes due 2026. News items cover share repurchase activity under a multi-year authorization, detailing repurchased Class C shares and total amounts spent.
Leadership and governance developments appear in the news flow as well, such as the appointment of a new Executive Vice President and Chief Financial Officer, transitions of existing executives into advisory roles, and updates on the annual meeting of stockholders. Strategic brand updates, including the planned separation of Curry Brand from Under Armour and the company’s stated focus on its core UA brand and UA Basketball products, provide additional context for the company’s direction.
By reviewing these items in one place, readers can track Under Armour’s operational performance, restructuring progress, capital markets activity, and key corporate decisions as disclosed in its own news releases.
Under Armour, Inc. reported third-quarter fiscal 2023 results, highlighting a 3% revenue increase to $1.6 billion (7% currency neutral). Wholesale revenue rose 7% to $820 million, while direct-to-consumer fell 1% to $715 million. North America revenue decreased by 2% to $1 billion, but international revenue surged by 14% to $527 million. Gross margin declined by 650 basis points to 44.2%. Net income was $122 million, with diluted EPS at $0.27. The company continues a share repurchase program, having bought back 35 million shares for $425 million. The fiscal 2023 outlook remains stable with expected diluted EPS between $0.71 and $0.75.
Under Armour (NYSE: UA, UAA) announces the appointment of Carolyn Everson and Patrick Whitesell to its Board of Directors, effective February 1, 2023. Harvey Sanders, a long-standing board member, is set to retire on March 31, 2023. Everson brings extensive experience from roles at Instacart and Meta Platforms, while Whitesell has a background in sports and entertainment as Executive Chairman of Endeavor Group Holdings. Under Armour's Executive Chair, Kevin Plank, expressed optimism about these additions, highlighting their potential to enhance the company’s global brand and digital growth.
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.
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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.