Under Armour Inc (NYSE: UAA) reported Q1 EPS of ($0.08), in-line with the analyst estimate of ($0.08). Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.16 billion.

Given the uncertainty surrounding evolving trade policies and the macroeconomic environment, including potential demand-related and cost impacts from tariffs, the company is providing an outlook solely for the first quarter of fiscal 2026. Key points related to Under Armour\'s first quarter fiscal 2026 outlook include:

Revenue is expected to decrease 4 to 5 percent compared to the first quarter of fiscal 2025. This includes an anticipated 4 to 5 percent decline in North America, high single-digit percentage growth in EMEA, and a mid-teen percent rate decline in the Asia-Pacific region.
Gross margin is expected to increase 40 to 60 basis points compared to the previous year, driven by a more favorable product mix, lower product and freight costs, and positive foreign exchange impacts. However, this increase is expected to be partially offset by a less favorable channel and regional mix and anticipated impacts from tariffs.
Selling, general, and administrative expenses are expected to decrease approximately 40 percent compared to last year\'s first quarter, which included a $274 million litigation settlement expense. Excluding last year\'s litigation settlement expense and anticipated transformation costs related to the company\'s Fiscal 2025 Restructuring Plan, adjusted selling, general, and administrative expenses are expected to leverage slightly compared to the prior-year quarter.
Operating income is anticipated to be $5 million to $15 million. Excluding projected restructuring charges and transformation expenses, the expected first quarter adjusted operating income is forecasted to be between $20 million and $30 million.
Diluted loss per share is expected to be $0.00 to $0.02. Adjusted diluted earnings per share is anticipated to be $0.01 to $0.03.

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