Under Armour, Inc. Q2 2027 Earnings Recap

Under Armour shares fell 4.9% after earnings, despite management saying revenue met expectations and adjusted operating income beat its outlook. The transcript points to a cautious demand backdrop: management emphasized improving revenue quality and full-price selling, while noting its high-volume Tech Tee does not sell often enough at full price.

Key Takeaways

• Management said revenue was in line with expectations and adjusted operating income exceeded its outlook; no specific quarterly figures were provided in the transcript.
• Football cleats grew double digits, with higher average selling prices and market-share gains; Under Armour said it is now the No. 2 football-cleat brand in the U.S.
• Peak gear and Core Vanish also grew double digits. Management cited continued growth for France and Shawn.
• The company is targeting nearly 50% fewer SKUs than when CEO Kevin Plank returned in 2024 and said it has removed more than 60% of materials while increasing product commonality.
• Beginning in fall 2027, youth apparel will move to an expanded licensing model with Centric Brands. Management expects the arrangement to reduce inventory, working capital and operating complexity.