Under Armour (UA-US) Upgrades 2026 Profit Outlook Amid Restructuring and Tariff Pressures

Under Armour (UA-US) reported results ahead of expectations for the third quarter of its 2026 fiscal year and raised its 2026 fiscal profit guidance, lifting pre-market shares about 4%. The company attributes the improvement to operational restructuring, a simplified product mix, and a shift toward higher-margin categories. On February 6, 2026, UA-US shares opened up 4.55% at $6.43 per share. The company expects 2026 revenue to decline 4% (narrowing from 4%–5%), with North America and Asia-Pacific down 8% and 6%, respectively, while EMEA and Latin America posting gains to partially offset declines. The tax hike on manufacturing in Vietnam and Indonesia is expected to add about $1 billion in costs and shave roughly 190 bps from the 2026 gross margin. GAAP EPS guidance for 2026 is $0.10–$0.11, versus a prior range of $0.03–$0.05, and the annualized loss is forecasted at $1.24–$1.25 per share. Q4 2025 revenue was $13.3 billion, down 5% year-over-year; adjusted EPS was $0.09, beating analyst expectations. Gross margin fell 310 bps to 44.4% due to tariffs and cost pressures. Asia-Pacific revenue declined 5%, North America 10%, while EMEA and Latin America posted gains. Wholesale sales fell 6%, and DTC sales declined 4%. Apparel sales were down 3%, while shoes and accessories slipped 12% and 3%, respectively.