Under Armour, Inc

Under Armour, Inc NYSE
No trades
Upcoming Earnings
Market Cap
Div Yield
Upcoming Earnings
Market Cap
Div Yield

Important events

May 202022

Under Armour CEO stretched too thin

Struggling athletic-wear brand Under Armour is saying goodbye to its CEO as it tries to get the balance sheet into positive territory.

  • Under Armour shares plummeted nearly 16% on Thursday to hit its lowest point since June 2020 and erase pretty much all of its pandemic gains, coming within $3 of an all-time low.
  • Investors were reacting to CEO Patrik Frisk’s unexpected departure from the company. Frisk has been with the company since 2017 and has been leading its restructuring efforts – now, the business says it’s ready to shift its plans to a growth model, with a new exec at the helm.
  • It could have something to do with its recent earnings, which sent the stock hurtling down by over 25% after earnings revealed that supply obstacles and fresh lockdowns in China were seriously hurting the business. COO Colin Browne will take over in the interim until the brand finds a new CEO.
Taylor Siebert / Unsplash

Subscribe to Snaps

See the market snapshots that matter and nothing else – sent to your inbox daily. Designed to be read in 20 seconds or less.

May 092022

Under Armour trips over supply hurdles

Under Armour is losing its position on the earnings podium after its soles get worn down by supply chain disruptions and covid.

  • Shares lost a quarter of their value on Friday, down over 25% to hit their lowest level since September 2020 following a surprise loss and missing on both ends in Q1 with LPS of $0.01 on revenues that were up only 3% to hit $1.3bn.
  • China left a huge dent in the armor. CEO Patrik Frisk cited “global supply challenges and emergent COVID-19 impacts in China” to explain the drastic swing to un-profitability – China is important for Under Armour, for both sales and manufacturing, and the region saw a 14% decline in sales compared to 4% growth in North America.
  • It’s set to fall further behind in the sales race, forecasting flat to declining sales in the current quarter. The declines are in stark contrast to the pandemic-driven boom in demand for athleisure wear the last few quarters, and the industry seems to be suffering across the board with Adidas issuing a similar warning for investors.
See all reported financials
Austin Kirk / Flickr
Feb 142022

Getting under the armor

Current quarter guidance proves to be the Achilles heel of an otherwise strong earnings report, and share prices get wounded.

Key Points:
  • The stock marched down over 11% on Friday despite its earnings release topping on both ends with EPS of $0.14 (double the $0.07 expected) on top of revenues of $1.53bn, partly thanks to covid-induced surge in activity.
  • Investors were reacting to uncertain guidance. A combination of supply constraints, heightened freight expenses, and the fact that it’s using this quarter to change its fiscal year meant EPS guidance of between $0.02 and $0.03.
  • The added pressures are just a “temporary speed bump”, according to CEO David Bergman, who has been trying to make Under Armour a more luxury brand that can compete with the likes of Nike (NKE) and Lululemon (LULU).
See all reported financials
Taylor Siebert / Unsplash
Nov 032021

Under Armor takes the podium

Sports apparel company Under Armour puts its best foot forward with impressive earnings.

  • Stock sprints 14% on Q3 report: Earnings beat on both ends with a 20% increase in EPS.
  • Under Armour also doubled its FY earnings forecast. The company is expecting a 25% increase in revenue.
  • Gold star for new CEO: Patrick Frisk joined in 2019 to help the brand get over its #MeToo moment.