Under Armour, Inc. — Form 8-K
Filed August 7, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 52/100
What the filing says
Under Armour reported Q1 FY2027 revenue of $1.1B (down 3% YoY; down 4% constant currency), with North America declining 9% to $610M and international up 5% to $490M. Gross margin expanded 590 bps to 54.1%, largely due to $70M IEEPA tariff refunds, though pricing headwinds persist. The company cut full-year FY2027 revenue guidance from "slight decline" to "mid-single-digit decline," citing softer demand in North America and Asia-Pacific, but maintained operating income guidance of $96–116M GAAP ($140–160M adjusted). Total restructuring costs to date: $266M of $305M planned; completion expected by end-2026.
Why this rating
Revenue guidance cut reflects real demand weakness (~3–5% of $4.5B annual run-rate); $70M tariff benefit masks underlying margin pressure. Material but not existential—profitability protected via restructuring; business trajectory challenged but stabilizable.
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