Under Armour Q1 FY2027: Margin Gains From Tariffs, Yet Revenue Slowing
Aug 7, 2026, 6:58 AM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting
The updated FY2027 revenue outlook (mid-single-digit decline) implies continued revenue pressure even as gross margins improve from tariff refunds. The stock may trade lower in the near term on multiple compression until a clearer top-line recovery materializes; margin tailwinds provide a potential floor, but are not a guarantee to offset ongoing sales weakness.
AI summary
What happened, with direct paths to the underlying reporting
UA posted Q1 FY2027 results with net revenues of about $1.10B, down 3% YoY and 4% CC. NA sales fell 9% while International rose 5%; gross margin expanded to 54.1% driven by IEEPA tariff refunds. The company reaffirmed a mid-single-digit revenue decline for FY2027 and highlighted restructuring progress and tariff-driven margin benefits as key near-term catalysts.
Net revenues: $1,097.9M; down 3% YoY, 4% CC.
NA revenue down 9% to $610M; international up 5% to $490M.
Gross margin 54.1% up 590 bps; IEEPA tariff refunds aid.
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