What To Expect From Under Armour's (UAA) Q1 Earnings

Jabin Bastian /
2024/05/15 3:01 am EDT

Athletic apparel company Under Armour (NYSE:UAA) will be reporting results tomorrow before market open. Here's what to expect.

Under Armour missed analysts' revenue expectations by 1.3% last quarter, reporting revenues of $1.49 billion, down 6% year on year. It was a mixed quarter for the company, with an impressive beat of analysts' earnings estimates but a miss of analysts' revenue estimates.

Is Under Armour a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Under Armour's revenue to decline 5.2% year on year to $1.33 billion, a reversal from the 7.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.08 per share.

Under Armour Total Revenue

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 1 downward revisions over the last 30 days. Under Armour has missed Wall Street's revenue estimates twice over the last two years.

Looking at Under Armour's peers in the apparel, accessories and luxury goods segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Columbia Sportswear's revenues decreased 6.2% year on year, beating analysts' expectations by 3.6%, and Figs reported flat revenue, topping estimates by 1.6%. Columbia Sportswear traded up 1.3% following the results while Figs was down 4.4%.

Read our full analysis of Columbia Sportswear's results here and Figs's results here.

There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with share prices up 8.4% on average over the last month. Under Armour is up 4.5% during the same time and is heading into earnings with an average analyst price target of $15.5 (compared to the current share price of $6.9).

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