Under Armour (UA) Earnings: Q2 Fiscal 2027 Results and Next Report Date

The quarter ended September 30, 2026 and Under Armour published the results on November 6, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Under Armour reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Under Armour's fiscal year ends March 31, so Q2 fiscal 2027 is the quarter ended September 30, 2026.
• Under Armour reports one per-share figure for its Class A, B and C common stock, so the UAA (Class A) and UA (Class C) pages carry the same results.
• Corporate Other is mainly foreign currency hedge gains and losses managed through Under Armour's central foreign exchange program. It is shown as a negative row so the regions sum to total net revenues. Figures were printed in thousands and are rounded here to one decimal in millions.

Source: Under Armour Q2 fiscal 2027 results, November 6, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Under Armour splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• Under Armour's North America revenue was $737 million in Q2 fiscal 2027, down 7% from $792 million in Q2 fiscal 2026, 59% of total revenue.
• Under Armour's EMEA revenue was $291 million in Q2 fiscal 2027, down 9% from $318 million in Q2 fiscal 2026, 23% of total revenue.
• Under Armour's Asia-Pacific revenue was $164 million in Q2 fiscal 2027, down 9% from $179 million in Q2 fiscal 2026, 13% of total revenue.
• Under Armour's Latin America revenue was $55.4 million in Q2 fiscal 2027, up 3% from $53.8 million in Q2 fiscal 2026, 4% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q2 fiscal 2027 release, Under Armour said:

“Revenue is still expected to decline at a mid-single-digit percentage rate.”

“Operating Income is now expected to be in the range of $99 million to $119 million versus the prior expectation of $96 million to $116 million.”

“Diluted loss/earnings per share is now expected to range from a loss of $0.02 to earnings of $0.02 versus the prior expectation of a loss of $0.01 to $0.05 per share.”

“Excluding anticipated transformation expenses and restructuring charges and the benefit from the reversal of certain previously accrued litigation reserve, adjusted diluted earnings per share is still expected to be $0.08 to $0.12.”

Source: Under Armour Q2 FY27 release, Nov 6, 2026.

This is the company's own guidance as of Nov 6, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the UA forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP figures, each as first reported in that quarter's release. Under Armour prints revenue in thousands; it is rounded here to one decimal in millions. Diluted EPS is the single figure Under Armour reports for its Class A, B and C common stock.

Under Armour's next report is expected around February 4, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q2 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Nov 6, 2026

Under Armour's revenue decreased 7% to $1.2 billion in Q2 fiscal 2027, the quarter ended September 30, 2026. North America, its largest region, declined 7% to $737 million and international revenue decreased 7% to $509 million, or 9% in constant currency. Within international, EMEA revenue fell 9%, Asia-Pacific 9% and Latin America rose 3% (down 4% in constant currency). (Under Armour Q2 FY27 release, Nov 6, 2026)

By channel, Under Armour's wholesale revenue decreased 6% to $725 million and direct-to-consumer revenue decreased 8% to $494 million. Within DTC, owned-and-operated store revenue declined 7% and eCommerce revenue fell 12%, to 27% of DTC revenue. By category, apparel revenue decreased 6% to $880 million, footwear 11% to $234 million and accessories 7% to $105 million. (Under Armour Q2 FY27 release, Nov 6, 2026)

The 10-Q says Under Armour's North America revenue fell by $54.3 million, with declines in both wholesale and direct-to-consumer, and that the region's revenue included approximately $8 million from wholesale orders originally planned for Q3 fiscal 2027. Corporate Other, which mostly holds foreign currency hedge gains and losses, reduced total net revenues by $5.0 million. (Under Armour Form 10-Q, Q2 FY27, Nov 6, 2026; Under Armour Q2 FY27 release, Nov 6, 2026)

Under Armour's 10-K gives the wider mix: in fiscal 2026 North America was approximately 58% of net revenues, sales in the United States were $2.6 billion, and no single customer accounted for more than 10% of consolidated net revenues. At September 30, 2026 Under Armour ran 438 company-owned and operated doors (373 Factory House and 65 Brand House), against 447 a year earlier. (Under Armour Form 10-K, fiscal 2026, May 19, 2026; Under Armour Q2 FY27 release, Nov 6, 2026)

Under Armour's diluted EPS and adjusted diluted EPS were both $0.00 in Q2 fiscal 2027, against a GAAP loss of $0.04 and adjusted EPS of $0.04 a year earlier. Net loss was $0.4 million and adjusted net loss $2 million. Operating income was $15 million, or $25 million adjusted. (Under Armour Q2 FY27 release, Nov 6, 2026)

Under Armour's adjusted figures exclude charges under its Fiscal 2025 Restructuring Plan, litigation reserve items and the valuation allowance against its U.S. federal deferred tax assets. In the quarter it recorded $11 million of restructuring charges and $2 million of transformation-related SG&A, a total of $13 million, and reversed $3.2 million of previously accrued litigation reserve. The plan has cost $280 million to date of an expected approximately $305 million and is to be substantially complete by December 31, 2026. (Under Armour Q2 FY27 release, Nov 6, 2026)

Under Armour's pretax loss was $2.4 million and it recorded an income tax benefit of $2.4 million, against tax expense of $25.9 million a year earlier on pretax income of $7.5 million. Diluted weighted average shares were 429,679 thousand. It repurchased no shares in the first half of fiscal 2027, against $25.0 million a year earlier, and approximately $385 million remains under its Class C repurchase program. (Under Armour Q2 FY27 release, Nov 6, 2026; Under Armour Form 10-Q, Q2 FY27, Nov 6, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Under Armour gives a full-year outlook in its release. For fiscal 2027 it still expects revenue to decline at a mid-single-digit percentage rate. It now expects gross margin to rise 170 to 220 basis points, against a prior 220 to 270, because of higher fuel and freight costs, planned inventory management actions and foreign exchange. Operating income is now expected at $99 million to $119 million and diluted EPS between a loss of $0.02 and earnings of $0.02. Adjusted diluted EPS is still expected at $0.08 to $0.12. (Under Armour Q2 FY27 release, Nov 6, 2026)

The outlook includes an approximate $70 million benefit from refunds of prior-year IEEPA tariff expenses, partly offset by about $45 million of headwinds from the conflict in the Middle East. Under Armour's reconciliation for the quarter ending December 31, 2026 shows a GAAP operating loss of $30 million to $20 million and adjusted operating income from a loss of $5 million to income of $5 million. (Under Armour Q2 FY27 release, Nov 6, 2026)

A consensus figure is the average of the models published by the analysts who cover Under Armour, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Under Armour's own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning UA is on is UA a buy or a sell?, what analysts expect next is on the UA forecast, and what the company does is on the Under Armour (UA) stock page.

Every number on this page can be traced to a document Under Armour published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.