1Moยท

$UA (+0,27ย %)

$UAA (-0,24ย %) | Under Armour Q3 '24 Earnings Highlights:


๐Ÿ”น Adj EPS: $0.30 (Est. $0.19) ๐ŸŸข

๐Ÿ”น Revenue: $1.4B (Est. $1.38B) ๐ŸŸข; DOWN -11% YoY

๐Ÿ”น Gross Margin: 49.8%, UP 200 bps YoY

๐Ÿ”น Adj Operating Income: $166M (excluding one-time items)

๐Ÿ”น Inventory: DOWN -3% YoY to $1.1B


Raised FY25 Outlook:

๐Ÿ”น Adj EPS: $0.24-$0.27 (Prev. $0.19-$0.21) ๐ŸŸข

๐Ÿ”น Adj Operating Income: $165M-$185M (Prev. $140M-$160M) ๐ŸŸข

๐Ÿ”น Revenue: Expected to decline at a low double-digit percentage

๐Ÿ”น North America: -14% to -16%

๐Ÿ”น International: Low single-digit percent decline

๐Ÿ”น Gross Margin: Expected to increase by 125-150 bps

๐Ÿ”น Adjusted SG&A Expenses: Expected to decrease low-to-mid single digits (excluding litigation and transformation expenses)

๐Ÿ”น Capital Expenditures: $190M-$210M


Q3 Demography Revenue:

๐Ÿ”น North America: $863M; DOWN -13% YoY

๐Ÿ”น International: $538M; DOWN -6% YoY

๐Ÿ”น EMEA: DOWN -1%

๐Ÿ”น Asia-Pacific: DOWN -11%

๐Ÿ”น Latin America: DOWN -13%


Revenue Channels:

๐Ÿ”น Wholesale Revenue: $826M; DOWN -12% YoY

๐Ÿ”น Direct-to-Consumer (DTC) Revenue: $550M; DOWN -8% YoY

๐Ÿ”น eCommerce Revenue: DOWN -21%; accounts for 30% of DTC


Product Categories:

๐Ÿ”น Apparel: $947M; DOWN -12% YoY

๐Ÿ”น Footwear: $313M; DOWN -11% YoY

๐Ÿ”น Accessories: $116M; UP +2% YoY


CEO Kevin Plank's Commentary:

๐Ÿ”ธ "Our strategy to elevate Under Armourโ€™s brand positioning is gaining traction, as evidenced by better-than-expected profitability, allowing us to raise our full-year outlook while increasing brand investment for long-term growth."


Fiscal 2025 Restructuring Plan:

๐Ÿ”น Total estimated charges of $140M-$160M, with up to $75M in cash-related expenses

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