Under Armour released a dreadful Q1 report

By: Miguel A. Rodriguez

09:45, 14 September 2020

Rough start of the week for Under Armour as the Q1 financial report showed terrible revenue figures.

Earlier today, Under Armour, the American manufacturer of footwear, sports, and casual apparel, released the financial report for the first quarter of 2020.

The company has been walloped by the pandemic, reporting a decline in sales of 23% for the first quarter. It ended it with a revenue of $930.2 million, while the EPS lost 34 cents. It underperformed even the most conservative analyst expectations. The consensus was a 19-cent loss per share with a revenue of $973.2 million. Compared to the same time last year, it reported a 5 cents EPS and a profit of $22.5 million.

The revenue dropped from $1.20 billion to $930.2 million, as the pandemic forced Under Armour to shut down stores world-wide.

The stock price was down by 1% in premarket trading. This year alone, the stock price fell by almost 54%.

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Sources: thestreet.com, cnbc.com

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.