BALTIMORE, Sept. 9, 2024 /PRNewswire/ -- Under Armour, Inc. (NYSE: UAA, UA) today announced an update to its Fiscal 2025 restructuring plan, including additional initiatives to optimize the company's strategic supply chain capabilities and overall business performance. Previously, the company expected to incur pre-tax restructuring and related charges of approximately $70 million to $90 million in connection with its Fiscal 2025 restructuring plan. Following further evaluation, the company has identified ap ...

Massimo Giachetti Investment Thesis About two years ago, I conducted an analysis on Under Armour, Inc. (NYSE:UA, NYSE:UAA) in which the company received my buy rating and I suggested underweighting its position in an investment portfolio, due to its elevated risk level. I also published a comparative analysis between Under Armour and its competitor Nike (NKE), in which I selected Nike as the superior choice for long-term investors. This was particularly due to its lower risk level and superior Profitability ...

Under Armour (UAA) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. The upward trend in estimate revisions for this sports apparel company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between tren ...

Under Armour, Inc. (UAA) reported first-quarter fiscal 2025 results, wherein both the top and bottom lines beat their respective Zacks Consensus Estimate. However, both metrics dropped year over year. Revenue & Earnings Picture The Baltimore-based company reported adjusted earnings of 1 cent per share, which beat the Zacks Consensus Estimate of an adjusted loss of 8 cents. However, the bottom line decreased from the year-ago figure of 2 cents. Meanwhile, net revenues of $1,183.7 million surpassed the Zacks ...

财务业绩 - 总净收入下降10.1%[156] - 批发渠道收入下降8.3%，直销渠道收入下降11.8%[156] - 服装、鞋类和配件收入分别下降8.1%、14.7%和5.4%[156] - 北美地区收入下降14.2%，EMEA地区收入增长0.1%，亚太地区收入下降10.1%，拉丁美洲地区收入增长15.6%[156] - 毛利率增加110个基点至47.5%[156] - 净销售额下降9.8%至11.61亿美元，主要受到服装、鞋类和配饰销量下降的影响[167] - 许可收入下降13.6%至2167万美元，主要由于北美和日本地区的许可合作伙伴收入下降[168] - 毛利率上升110个基点至47.5%，主要受益于直营渠道折扣和促销力度下降以及供应链成本下降[170] - 北美地区净销售额下降14.2%至7.09亿美元[189] - 总净收入同比下降14.2%,主要由北美地区批发渠道和直营渠道收入下降以及许可收入下降所致[191] - 北美地区营业利润下降8.0%,主要由于毛利下降,部分被营销费用和销售及分销费用降低所抵消[196] - EMEA地区营业利润下降31.3%,主要由于营销费用增加,部分被毛利增加所抵消[196] - 亚太地区营业利润下降35.5%,主要由于毛利下降,部分被营销费用和销售及分销费用降低所抵消[196] - 拉丁美洲地区营业利润增长162.6%,主要由于毛利增加[196] 费用和重组 - 销售、一般及管理费用增加42.1%,主要由于与证券集体诉讼和解相关的274百万美元的诉讼费用增加[156] - 公司批准了2025年重组计划,预计将产生7000万至9000万美元的重组及相关费用[157][158][159] - 销售、一般及管理费用增加42.1%至8.37亿美元，主要由于计提了与证券诉讼和重组相关的费用[171,172] - 重组费用为2509万美元，主要包括员工相关费用、资产减值和其他重组成本[174,175,176] - 公司其他非经营分部营业亏损增加160.6%,主要由于与证券诉讼和重组相关的费用增加[196] 现金流和融资 - 公司拥有8.85亿美元现金及现金等价物,并计划利用现金和保险赔付金偿付证券诉讼和解[198][199] - 公司董事会批准了5亿美元的股票回购计划,并在2024年第二季度回购了价值4000万美元的股票[201] - 经营活动产生的现金流量同比增加1.59亿美元,主要由于营运资金变动[203] - 公司于2024年6月1日偿还了8090万美元本金的1.50%可转换优先票据[207] - 公司于2016年6月发行了6亿美元3.250%的无担保优先票据，到期日为2026年6月15日[208] - 公司于2024年7月与银行签订了修订后的5亿美元的循环信贷协议，期限分别为2026年12月3日和2027年12月3日[206] - 公司可以根据需求增加最多3亿美元的贷款额度，但需要满足相关条件[206] - 公司最多可使用5000万美元的信用额度开具信用证，截至2024年6月30日已使用4.2百万美元[206] - 公司需要维持利息覆盖率不低于3.5倍和杠杆率不超过3.25倍的财务指标[206] - 公司于2024年7月就证券集体诉讼的和解费用从EBITDA中剔除达成修订[206] - 公司的信贷协议采用SOFR替代LIBOR作为基准利率[206] 其他 - 通胀和全球事件对公司业务产生影响,公司正在密切关注相关因素[161] - 利息收入净额增加3.97百万美元至2.34百万美元，主要由于利率上升[178,179] - 其他费用净额下降3.33百万美元至2.73百万美元，主要由于外汇套期保值收益增加[181,182] - 所得税费用增加0.82百万美元至5.15百万美元，有效税率下降主要由于美国亏损对海外收益的影响[184,185] - 公司的财务报表编制需要管理层做出估计和假设，这些估计和假设可能存在不确定性和不可预测性[209] - 公司的市场风险敞口自2024年3月31日以来未发生重大变化[210]

财务数据和关键指标变化 - 第一季度收入下降10%至12亿美元,其中北美下降14%,主要受到批发需求疲软和向off-price渠道销售下降的影响[36] - 毛利率上升110个基点至47.5%,主要受益于更少的折扣和促销活动,以及供应链成本下降[40][41] - 经营亏损3亿美元,调整后经营利润800万美元,优于预期[42] 各条业务线数据和关键指标变化 - 服装收入下降8%,鞋类收入下降15%,配件收入下降5%[39] - 批发收入下降8%,直营收入下降12%,其中电商下降25%[39] - 许可收入下降14%,主要受北美和日本业务下滑影响[39] 各个市场数据和关键指标变化 - EMEA地区收入持平,DTC业务增长抵消了批发业务的下滑[37] - APAC地区收入下降10%,受到宏观环境和激烈竞争的影响[37][38] - 拉丁美洲地区收入增长16%[38] 公司战略和发展方向及行业竞争 - 公司提出"Protect This House"战略,聚焦于提升产品力、优化运营和提升消费者体验[7][28] - 公司将自身定位为"运动之家",目标成为全球5大运动品牌之一[7][8][9] - 公司正在精简产品线,未来18个月内SKU数量将减少25%[29] - 公司正在优化供应链,提升规划和跨渠道能力[30] 管理层对经营环境和未来前景的评论 - 管理层对公司前景保持乐观,认为正在执行战略取得进展[7][35] - 预计全年收入将下降低个位数,毛利率将上升75-100个基点[44][45][46] - 管理层对EMEA地区保持谨慎乐观,对APAC地区则持更加谨慎态度[44][45] 其他重要信息 - 公司任命30年行业老兵Eric Liedtke为品牌战略执行副总裁,负责营销、战略等职能[14] - 公司与美国足球协会达成新的合作,成为美国国家队的独家服装和鞋履供应商[26] - 公司在2028年洛杉矶奥运会上将成为美国队的官方服装供应商[26] 问答环节重要的提问和回答 问题1 **Jay Sole 提问** 询问公司对下半年销售增长的信心[52] **Kevin Plank 回答** 公司正在建立一支优秀的团队,执行战略取得进展,对前景保持乐观[53][54][55] 问题2 **Bob Drbul 提问** 询问公司营销方面的计划和Eric Liedtke的作用[55] **Kevin Plank 回答** 公司正在优化营销组织,Eric Liedtke将负责品牌营销、策略等关键职能,有助于提升品牌讲述能力[56][57][58] 问题3 **Simeon Siegel 提问** 询问公司SKU精简计划的具体安排[58][59][60] **Kevin Plank 和 Dave Bergman 回答** 公司将聚焦于核心运动品类,精简低毛利产品,同时提升高端产品占比,以提升整体毛利率[59][60][61][62]

Key Takeaways Under Armour is "encouraged by early progress" in its restructuring process. First-quarter revenue fell 10% year-over-year but beat analysts' consensus estimate. Fiscal 2025 revenue is expected to fall by a low-double-digit percentage rate. Under Armour (UAA) shares popped intraday Thursday following the company's first-quarter fiscal 2025 results, its first since announcing a substantial restructuring plan. The athletic apparel retailer said it has recognized $34 million of the estimated $70 ...

Under Armour (NYSE:UA) stock is gaining on Thursday after the company reported positive earnings for its fiscal first quarter of 2025. The latest earnings report from Under Armour starts with its adjusted earnings per share of 1 cent. That's a massive surprise compared to the -8 cents per share Wall Street was expecting. It's also better than the -6 cents from the same time last year. Adding to that is revenue of $1.18 billion for the fiscal first quarter of 2025. That's above the $1.14 billion that analyst ...

Shares of Under Armour Inc (NYSE:UAA) are 17.6% higher at $7.61 this morning, on track for its best session since October 2018 after the athletics apparel retailer reported a surprise quarterly profit and hiked its fiscal 2025 outlook. For the second quarter, Under Armour showed adjusted earnings of 1 cent per share on revenue of $1.18 billion, both of which beat analysts estimates, while CEO and founder Kevin Plank lauded the company's "strongest product organization" it has had in years. On the charts, UA ...

For the quarter ended June 2024, Under Armour (UAA) reported revenue of $1.18 billion, down 10.1% over the same period last year. EPS came in at $0.01, compared to $0.02 in the year-ago quarter. The reported revenue represents a surprise of +3.89% over the Zacks Consensus Estimate of $1.14 billion. With the consensus EPS estimate being -$0.08, the EPS surprise was +112.50%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...