NYSE$UA

Under Armour · Q4 2026 earnings

Q4 2026 earnings · · Before market open · Investor relations

Briefing

Under Armour reported fiscal Q4 2026 revenue of $1.17B with a net loss of $43.4M and diluted loss per share of $0.10; fiscal 2027 outlook calls for slight revenue decline and adjusted EPS of $0.08–$0.12.

For the quarter ended March 31, 2026, Under Armour posted net revenues of $1.17 billion, down 1% (down 4% constant currency). Gross margin fell 470 bps to 42.0% on tariffs, product costs, and mix. Operating loss was $34 million; adjusted operating income was $3 million excluding restructuring. Net loss was $43.4 million, or $0.10 per diluted share, versus a $67.5 million loss and $0.16 per share a year ago. Inventory declined 3% to $915 million; cash was $309 million plus $605 million in restricted investments for note repayment. Management introduced fiscal 2027 guidance for slightly lower revenue, gross margin up 220–270 bps, and adjusted diluted EPS of $0.08–$0.12.

  • Q4 revenue $1.17B (-1% YoY; -4% constant currency).
  • Gross margin 42.0% (-470 bps); adjusted gross margin 43.1%.
  • Net loss $43.4M; adjusted diluted EPS $(0.03).
  • International revenue +10% constant currency; North America -7%.
  • FY27 guide: slight revenue decline; adjusted operating income $140–$160M.

Headline financials

Total Revenue

$1.17B

Previous: $1.18B-0.8%
EPS (adj)

-$0.10

Previous: -$0.16+37.5%
Net Income

-$43.4M

Previous: -$67.5M+35.7%
Operating Income

-$33.7M

Previous: -$72.1M+53.2%

Revenue & EPS history

Under Armour · Revenue · Quarterly

$1.17B

Q4 2026-0.8%vs Q4 2025
Beat estimate in 11 of 11 quarters(100%)
ActualEstimate

Revenue by segment

Under Armour · $1.57B total across 3 segments · Q2 2024

  • Apparel
    $1.1B+5.9%
  • Footwear
    $351M-6.6%
  • Accessories
    $114M+2.6%

Forward guidance

For fiscal 2027 (ending March 2027), Under Armour expects revenue to decline slightly, with low single-digit declines in North America partly offset by low single-digit growth in EMEA and Asia-Pacific. Gross margin is expected to increase 220–270 bps, including ~150 bps from assumed IEEPA tariff reversal. Adjusted operating income is guided to $140–$160 million; adjusted diluted EPS $0.08–$0.12.

Tailwinds

  • Gross margin expansion of 220–270 bps including tariff reversal benefit.
  • Adjusted operating income $140–$160M with incremental marketing investment.
  • International growth partially offsets North America softness.

Headwinds

  • Headline revenue expected to decline slightly year over year.
  • Middle East conflict and tariff headwinds (~$35M) pressure margins.
  • Higher effective tax rate vs. prior year on regional mix.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q4 2026

Historical avgQ4 2026

-0.5%

Avg return

Earnings day

-2.7%

Avg return

5 days after

-2.0%

Avg return

30 days after

54%

22 / 41 earnings

Positive

+24.6%

Q4 2015

Best reaction

-27.8%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026———
Q4 2026-16.8%-15.0%-1.2%
Q3 2026+19.3%+9.8%+4.2%
Q2 2026-1.1%+0.7%-1.6%
Q4 2025+1.7%+7.8%+9.2%
Q3 2025-4.6%-10.3%-12.7%
Q2 2025+8.7%+6.8%+12.3%
Q1 2025+22.3%+24.7%+19.6%
Q4 2024-0.5%-0.6%-2.0%
Q3 2024+4.8%+3.2%+7.5%
Q2 2024+1.0%-1.8%+19.0%
Q1 2024+1.3%+1.3%-6.4%
Q4 2023-10.1%-10.6%-11.6%
Q3 2023-10.9%-12.4%-27.2%
Q2 2023+16.0%+12.5%+42.1%
Q1 2023+1.2%+5.6%-10.2%
Q1 2022-27.8%-30.9%-24.2%
Q4 2021-12.8%-12.7%-19.2%
Q3 2021+18.2%+12.1%+4.9%
Q2 2021+13.3%+16.9%+11.6%
Q1 2021+6.3%+1.8%-4.1%
Q4 2020+9.5%+7.4%+10.9%
Q3 2020+6.1%+6.1%+22.2%
Q2 2020-13.7%-7.3%-10.2%
Q1 2020-14.1%-22.7%+5.4%
Q4 2019-14.9%-14.9%-51.8%
Q3 2019-13.7%-16.0%-10.0%
Q2 2019-16.6%-21.3%-30.5%
Q1 2019+2.8%-0.9%+2.8%
Q4 2018+3.8%-0.6%+3.9%
Q3 2018+18.0%+27.4%+29.4%
Q2 2018-2.3%-5.1%-0.2%
Q1 2018+6.6%+2.5%+23.3%
Q4 2017+22.5%+19.7%+4.9%
Q3 2017-23.4%-28.2%-19.1%
Q2 2017-9.1%-8.3%-16.6%
Q1 2017+7.0%+3.3%-0.4%
Q4 2016-25.1%-27.5%-24.4%
Q3 2016-16.1%-21.2%-27.3%
Q2 2016-8.9%-7.9%-1.3%
Q1 2016+6.9%——
Q4 2015+24.6%——
Q3 2015———
Q2 2015———
Q1 2015———
Q4 2014———
Q3 2014———
Q2 2014———
Q1 2014———
Q4 2013———
Q3 2013———
Q2 2013———
Q1 2013———
Q4 2012———
Q3 2012———
Q2 2012———
Q1 2012———
Q4 2011———
Q2 2011———
Q3 2011———
Q1 2011———
Q1 2010———
Q4 2010———
Q4 2008———
Q3 2009———
Q3 2010———
Q2 2010———
Q4 2009———
Q2 2009———

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