Under Armour Matches Q1 Loss, Beats Revenue Forecast as Brand Reset Gains Traction

Under Armour (NYSE:UAA) reported a first-quarter loss that aligned with expectations, while revenue came in slightly ahead of forecasts. The company posted an adjusted loss of $0.08 per share, matching analyst projections. Revenue fell 11% year-over-year to $1.2 billion but exceeded the consensus estimate of $1.16 billion, suggesting some stabilization in sales amid ongoing brand repositioning efforts.

Operating results showed a swing into the red, with a loss of $35.6 million compared to a $53.9 million profit in the same quarter last year. Inventory levels were modestly lower, down 1.3% to $945.8 million—broadly in line with expectations.

After a year into its strategic overhaul, the company is focused on refining product lines, tightening distribution, and rebuilding brand relevance. Management highlighted progress made toward long-term profitability despite near-term pressures.

Looking ahead, Under Armour is limiting forward guidance due to uncertainty around trade policy and macro conditions. For Q1 2026, the company expects EPS of $0.01 to $0.03 and anticipates revenue to decline 4% to 5% year-over-year. Weakness in North America and Asia-Pacific is expected to be partially offset by growth in the EMEA region.