Under Armour Stock Price, News & Analysis

Under Armour, Inc. (NYSE: UA, UAA) will release its fourth quarter and fiscal year results for the period ending December 31, 2021, on February 11, 2022, at 6:55 a.m. ET. A conference call hosted by Under Armour management will follow at approximately 8:30 a.m. ET to discuss the results. The call will be available for live webcast and replay on their investor relations site.

Under Armour (NYSE: UA, UAA) has migrated its SAP workloads to Amazon Web Services (AWS), enhancing reliability and scalability. This strategic move aims to improve operational efficiency across various business functions, including design, manufacturing, and sales. With the migration, Under Armour can leverage AWS's capabilities in analytics and machine learning to optimize product innovation and enhance consumer experiences. The transition was completed in under six months, utilizing AWS's Professional Services for a robust disaster recovery solution.

Under Armour reported third-quarter 2021 results with an 8% revenue increase to $1.5 billion. Direct-to-consumer revenue rose 12%, while wholesale revenue grew 10%. North America revenue was up 8%, and international revenue surged 18%. Apparel revenue increased 14%, but accessories revenue dropped 13%. Gross margin improved to 51%, though operational expenses rose 8% to $599 million. The company raised its full-year revenue outlook to approximately 25% growth. Adjusted diluted EPS is now expected to be around $0.74. COVID-19 disruptions remain a concern.

Under Armour, Inc. plans to announce its third-quarter earnings for the period ending September 30, 2021, on November 2, 2021, at 6:55 a.m. ET. A conference call to discuss the results will follow at approximately 8:30 a.m. ET. This event will also be available via a live webcast, with a replay offered approximately three hours after its conclusion. Under Armour continues to position itself as a leader in branded athletic performance apparel and footwear, focused on enhancing athlete performance.

Under Armour (NYSE: UA, UAA) announced the appointment of Massimo Baratto as the new Chief Consumer Officer, effective November 1. Previously the Managing Director for EMEA, Baratto’s new role will focus on enhancing Under Armour's consumer strategy, overseeing global marketing, eCommerce, and retail. Kara Trent will succeed him as the Senior Vice President/General Manager of EMEA. Additionally, Alessandro de Pestel, the Chief Marketing Officer, will depart in February 2022. This leadership change aims to strengthen Under Armour's market position.

Under Armour announced an agreement to exchange approximately $169.1 million of its 1.50% Convertible Senior Notes due 2024 for cash and Class C common stock. This exchange affects about 68% of the principal amount of the 2024 Notes, leaving $80.9 million outstanding. The deal will reduce annual interest payments by about $2.5 million.

Additionally, Under Armour entered into termination agreements for capped call transactions, enabling cash settlements linked to the stock's price, effective from August 23, 2021.

Under Armour announced the appointment of David Gibbs to its Board of Directors, effective September 1, 2021. Currently CEO of Yum! Brands, Gibbs brings extensive experience in global brand management and consumer focus, which Under Armour aims to leverage for growth. Executive Chairman Kevin Plank expressed enthusiasm about Gibbs' potential contributions to the company's ongoing transformation and growth strategy. Gibbs joins Under Armour after a successful tenure at Yum!, where he played a crucial role in its financial and operational strategies.

Under Armour reported a strong second quarter for 2021, with revenues reaching $1.4 billion, a 91% increase compared to the previous year. Notably, wholesale revenue surged by 157%. The company raised its full-year outlook, projecting revenues to grow at a low twenties percentage rate. Gross margin improved to 49.5%, and the company achieved net income of $59 million. However, challenges remain, including potential impacts from COVID-19 and restructuring costs of $483 million recognized to date. Cash reserves stood at $1.3 billion with no outstanding debt.

Under Armour, Inc. (NYSE: UA, UAA) will announce its second quarter earnings for the period ending June 30, 2021, on August 3, 2021, at 6:55 a.m. ET. Following the earnings release, a conference call will occur at approximately 8:30 a.m. ET, where management will discuss the results. This event will be webcast live and accessible for replay three hours after the call. As a leader in branded athletic performance apparel, Under Armour continues to focus on innovative products to enhance athletic performance.