Welcome to our dedicated page for Under Armour news (Ticker: UAA), a resource for investors and traders seeking the latest updates and insights on Under Armour stock.
Under Armour, Inc. (symbol: UAA) is a prominent designer, marketer, and distributor of performance apparel, footwear, and accessories. Headquartered in Baltimore, Maryland, the company was founded in 1996 by Kevin Plank, a former University of Maryland football player. Under Armour revolutionized athletic wear with its innovative moisture-wicking technology, starting with a superior t-shirt aimed at keeping athletes cool, dry, and light.
The company's product lineup is extensive, catering to men, women, and youth. Their offerings are categorized under three main brands: HeatGear® for hot conditions, ColdGear® for cold conditions, and AllSeasonGear® for in-between weather. This diverse product range is designed to enhance athletic performance by regulating body temperature and improving comfort.
Under Armour operates globally, with a significant presence in North America, Asia-Pacific, and Europe. They serve a broad market that includes professional and amateur athletes, sponsored college and professional teams, as well as individuals with active lifestyles. The company utilizes multiple sales channels, including direct-to-consumer models through e-commerce and over 400 combined factory and brand house stores, along with wholesale distribution.
One of Under Armour's key digital assets is the MapMyFitness app, which allows users to track their fitness activities and goals. This move highlights the company's commitment to integrating technology and fitness, providing comprehensive solutions for athletes.
In recent business updates, Under Armour reported unaudited financial results for the second quarter of fiscal 2024, noting profitability that exceeded expectations despite lowered revenue forecasts for North America. The company also completed a significant share buyback program, repurchasing $475 million worth of Class C common stock as of September 30, 2023. Additionally, Under Armour signed a multi-year NIL partnership with University of South Carolina guard MiLaysia Fulwiley and announced a multi-year partnership with USA Football through the 2028 Summer Olympics.
Under Armour's mission is to make all athletes better through passion, design, and relentless innovation. The company's strategic priorities focus on maintaining a balanced approach to profitability while investing in talent, systems, and processes aimed at long-term growth. Recent financial reports highlighted disciplined expense control and a strong balance sheet despite a challenging retail environment.
Under Armour, Inc. (NYSE: UA, UAA) will release its first quarter fiscal 2023 results, covering the period ended June 30, 2022, on August 3, 2022, at 6:55 a.m. ET. Following the results announcement, management will conduct a conference call at approximately 8:30 a.m. ET to discuss the findings. This financial update is crucial for investors to assess the company's performance and future outlook. For more details, the call will be webcast live and made available for later viewing on the company's investor relations page.
Under Armour announced that Patrik Frisk will step down as President and CEO on June 1, 2022. Colin Browne, currently COO, will serve as the interim CEO. The board has initiated a search for a permanent replacement. Frisk will remain as an advisor until September 1, 2022. Under Frisk's leadership since 2017, the company made significant strides in operations and strategic planning. Browne has modernized the company's digital strategy and supply chain, improving margins. The transition aims to enhance shareholder returns and innovation for athletes.
Under Armour reported unaudited financial results for the transition quarter ending March 31, 2022, with revenues up 3% to $1.3 billion. Wholesale revenue rose 4%, while direct-to-consumer revenue increased 1%. Gross margin decreased to 46.5% due to elevated freight expenses. A net loss of $60 million was recorded, with diluted loss per share at $0.13. For fiscal year 2023, revenue is projected to increase 5-7%, with operating income expected between $375-$400 million. The company completed its 2020 restructuring plan, recognizing $57 million in charges.
Under Armour (NYSE: UA, UAA) will release its transition quarter results for the period ending March 31, 2022, on May 6, 2022, at 6:55 a.m. ET. Following the press release, management will host a conference call at approximately 8:30 a.m. ET to discuss the results. This event will be available for live webcast on their investor relations website. Under Armour is a leading brand in athletic performance apparel, footwear, and accessories, aimed at enhancing athletic performance.
Under Armour announced it has entered into accelerated share repurchase agreements with JPMorgan Chase, Bank of America, and Citibank to repurchase $300 million of its Class C common stock. The company will pay $300 million upfront and receive an initial delivery of approximately 16.2 million shares, with remaining shares expected by May 2022. This action reflects Under Armour's commitment to returning value to shareholders, with an additional $200 million share repurchase authorization available post-completion.
Under Armour has authorized a $500 million share repurchase of its Class C common stock, effective immediately. This decision reflects the company's commitment to enhance shareholder value while preserving the financial flexibility for future growth opportunities. Repurchases may occur over the next two years through various methods, with timing and amount at management's discretion based on market conditions. CEO Patrik Frisk emphasized the buyback as a strategic means to deploy cash effectively.
Under Armour reported a 9% rise in Q4 2021 revenue to $1.5 billion, achieving $5.7 billion for the full year, up 27%. Direct-to-consumer sales increased 10%, while wholesale grew by 16%. Apparel and footwear segments saw notable revenue increases of 18% and 17%, respectively. Gross margin improved to 50.7%, though SG&A expenses rose 15%. The company projects mid-single-digit revenue growth for Q1 2022 but anticipates a 200 basis point decline in gross margin due to supply chain challenges. Adjusted EPS for Q4 was $0.14, with a full-year EPS of $0.85.
Under Armour, Inc. (NYSE: UA, UAA) will release its fourth quarter and fiscal year results for the period ending December 31, 2021, on February 11, 2022, at 6:55 a.m. ET. A conference call hosted by Under Armour management will follow at approximately 8:30 a.m. ET to discuss the results. The call will be available for live webcast and replay on their investor relations site.
Under Armour (NYSE: UA, UAA) has migrated its SAP workloads to Amazon Web Services (AWS), enhancing reliability and scalability. This strategic move aims to improve operational efficiency across various business functions, including design, manufacturing, and sales. With the migration, Under Armour can leverage AWS's capabilities in analytics and machine learning to optimize product innovation and enhance consumer experiences. The transition was completed in under six months, utilizing AWS's Professional Services for a robust disaster recovery solution.
Under Armour reported third-quarter 2021 results with an 8% revenue increase to $1.5 billion. Direct-to-consumer revenue rose 12%, while wholesale revenue grew 10%. North America revenue was up 8%, and international revenue surged 18%. Apparel revenue increased 14%, but accessories revenue dropped 13%. Gross margin improved to 51%, though operational expenses rose 8% to $599 million. The company raised its full-year revenue outlook to approximately 25% growth. Adjusted diluted EPS is now expected to be around $0.74. COVID-19 disruptions remain a concern.
FAQ
What is the current stock price of Under Armour (UAA)?
What is the market cap of Under Armour (UAA)?
What does Under Armour, Inc. do?
Where is Under Armour headquartered?
Who founded Under Armour?
What are Under Armour's main product lines?
How does Under Armour sell its products?
What is the MapMyFitness app?
What recent financial performance did Under Armour report?
Has Under Armour made any significant partnerships recently?
What is Under Armour's mission?
What are Under Armour's strategic priorities?
