Under Armour Inc Class C

UA: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Under Armour Earnings: Another Tough Quarter as Restructuring Drags On, but We See Long-Term Value

David Swartz

May 12, 2026

With a 7% sales decline in North America (54% of total), Under Armour ended fiscal 2026 with a 1% total sales drop. Its adjusted gross margin fell 360 basis points to 43.1% (reflecting higher tariffs and markdowns), its adjusted operating margin was 0.2%, and its adjusted loss per share was $0.03.

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Under Armour Inc Class C

Under Armour Earnings: Another Tough Quarter as Restructuring Drags On, but We See Long-Term Value

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