Under Armour-C

Q1 FY2027 EarningsQ1 FY27 results delivered a slight revenue miss ($1.10B vs. $1.11B expected) but a significant beat in operating profitability. Gross margin expanded 590 bps to 54.1%, marginally missing the 54.4% consensus. Despite North America revenue falling 9% YoY due to a challenging demand environment, adjusted operating income of $52M significantly outpaced the $36M consensus EBIT. Management lowered its full-year revenue outlook to a mid-single-digit decline while maintaining profitability targets, signaling a shift toward protecting brand equity and full-price selling over volume.