Under Armour, Inc. announced its first-quarter fiscal 2026 financial results, reporting net revenues of $1.134 billion for the period ended June 30, 2025. This represented a 4.2% decline year-over-year from $1.184 billion in Q1 FY25, falling short of Wall Street's consensus estimates.
The company posted a GAAP net loss of $2.6 million, or $(0.01) diluted EPS, for the quarter. While this was an improvement from a $(305.4) million loss in the prior year, adjusted net income was $9 million, or $0.02 per share, which met consensus estimates.
Under Armour provided a cautious outlook for the second quarter of fiscal 2026, projecting revenue to decline by 6% to 7% year-over-year, significantly below analyst estimates of $1.374 billion. Gross margin is anticipated to contract by 340-360 basis points, and adjusted diluted EPS is expected to range from $0.01 to $0.02, compared to a $0.28 consensus.
Management attributed the downbeat forecast to ongoing uncertainty around trade policies and the broader macroeconomic environment, including potential demand and cost impacts from tariffs. North America is expected to see a low double-digit revenue decline, while Asia-Pacific is projected to decline by a low-teen percentage rate, highlighting persistent regional challenges.
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