.August 8, 2024 3:28:00 PM

Under Armour (NYSE:UA) stock surged over 18% after reporting Q1 fiscal 2025 results that beat expectations. Adjusted EPS was $0.01, surpassing the estimated $0.08 loss. Revenue hit $1.2 billion, exceeding the forecasted $1.14 billion, despite a 10% decline YoY. Gross margin improved by 110 basis points to 47.5%, driven by lower discounting and reduced product costs. CEO Kevin Plank expressed optimism about the company’s progress in reestablishing a premium brand positioning. Under Armour updated its fiscal 2025 outlook, expecting revenue to decline at a low double-digit rate and raised adjusted operating income projection to $140-$160 million. The company recognized $34 million in restructuring charges during the quarter.