Under Armour Beats Q3 Expectations, Raises Fiscal 2026 Guidance

Sports brand defies headwinds, particularly in North America, with improved profitability and optimistic outlook.

Apr. 11, 2026 at 1:00pm

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A photorealistic studio still-life image of a polished, geometric metal trophy or award object floating on a clean, monochromatic grey background, conveying a sense of corporate achievement and strategic focus.Under Armour's third-quarter earnings beat reflects the brand's resilience and strategic focus amid industry headwinds.Baltimore Today

Under Armour reported adjusted diluted earnings per share of 9 cents in Q3, surpassing analyst expectations of a 2-cent loss. Despite a 5% revenue decline to $1.33 billion, the company's performance exceeded projections, driven by strength in international markets like Latin America and EMEA. While North America continued to struggle with a 10% sales drop, Under Armour's transformation efforts and updated fiscal 2026 guidance point to growing confidence in the brand's resilience.

Why it matters

Under Armour's ability to beat expectations and raise its profit outlook amid ongoing challenges in its core North American market demonstrates the brand's resilience and the progress of its transformation strategy. As the sportswear industry faces headwinds, Under Armour's performance signals its potential to navigate the landscape and emerge stronger.

The details

Under Armour reported adjusted operating income of $26 million, excluding litigation reserves and restructuring charges. While wholesale revenues declined 6% to $660 million and direct-to-consumer sales dipped 4% to $647 million, the company saw growth in international markets like Latin America (up 20%) and EMEA (up 6%). Apparel revenue decreased 3% to $934 million, footwear fell 12% to $265 million, and accessories were down 3% to $108 million.

  • Under Armour reported Q3 earnings on April 11, 2026.
  • The company unveiled a restructuring plan in May 2024 to improve financial and operational efficiency.

The players

Under Armour

A sports apparel and equipment company headquartered in Baltimore, Maryland.

Kevin Plank

The founder and CEO of Under Armour, who remained optimistic about the company's progress and transformation efforts.

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What they’re saying

“Our third-quarter adjusted operating results exceeded expectations, and despite a few unfortunate, non-recurring impacts, we're encouraged by the progress we're making in the business to ignite brand momentum.”

— Kevin Plank, Founder and CEO, Under Armour

“Our transformation is accelerating as we sharpen our focus and strengthen execution. Our strategy is gaining traction through better products, bolder storytelling, and a more disciplined market presence, positioning Under Armour to operate with greater intention and confidence going forward.”

— Kevin Plank, Founder and CEO, Under Armour

What’s next

Under Armour expects to recognize the remaining charges under its updated restructuring plan by the end of fiscal 2026.

The takeaway

Under Armour's ability to surpass expectations and raise its profit outlook amid ongoing challenges in North America demonstrates the brand's resilience and the progress of its transformation strategy, positioning it to navigate the competitive sportswear landscape with greater confidence.