UA Stock Recent News
UA LATEST HEADLINES
Wells Fargo earlier downgraded Under Armour Inc (NYSE:UAA) to "equal weight" from "overweight" and lowered its price target to $8 from $12, following a round of job cuts at its Baltimore headquarters.
Under Armour's growth trajectory and margins have disappointed in recent years, with the business in need of a turnaround. The athletics industry continues to remain attractive, with UAA's sales resilient against economic conditions. Compared to peers, the business is underperforming, but its multiple delta is far too high.
The athleticwear brand reported last week that its fourth-quarter gross margin declined 310 basis points to 43.4 percent, driven primarily by higher promotions.
Under Armour's outlook for the year ahead was weaker than investors expected. New CEO Stephanie Linnartz still sees potential for the brand and will look to turn the business around.
Under Armour, Inc. (NYSE:UAA ) Q4 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Lance Allega - SVP, IR & Corporate Development Kevin Plank - Founder, Executive Chairman & Brand Chief Stephanie Linnartz - President, CEO & Director David Bergman - CFO Conference Call Participants James Duffy - Stifel, Nicolaus & Company Simeon Siegel - BMO Capital Markets Jay Sole - UBS Matthew Boss - JPMorgan Chase & Co. Robert Drbul - Guggenheim Securities Brian Nagel - Oppenheimer Laurent Vasilescu - BNP Paribas Exane Operator Good day, and thank you for standing by, and welcome to the Q4 '23 Earnings Conference Call. [Operator Instructions].
Morningstar Equity Analyst David Swartz joins Yahoo Finance Live's Rachelle Akuffo to discuss Under Armour earnings, CEO Stephanie Linnartz's remarks during the sportswear company's Q4 earnings call, rising costs, consumer demand, and the outlook for Under Armour.
Under Armour NYSE: UA shares are declining by 8.6% in Tuesday's trading session; the negative sentiment comes amid the company's first quarter 2023 earnings results. Despite new CEO Stephanie Linnartz achieving expense reductions across the SG&A (Selling, General, and Administrative) items, shareholders seem upset concerning the fiscal year 2023 outlooks.
Yahoo Finance Live anchors Julie Hyman and Brad Smith discuss the decline in stock for Under Armour.
Yahoo Finance Live's Brad Smith discusses the decline in stock for Under Armour.
The sportswear company reported fiscal fourth-quarter earnings of 18 cents a share on revenue of $1.4 billion. Wall Street was looking for 15 cents on $1.36 billion.