Under Armour posted a net loss of $45 million in fiscal Q4 2026, compared with a $10 million profit a year earlier. Total revenue slid 9% to $1.32 billion, missing analysts’ expectations by roughly $80 million as both wholesale and direct-to-consumer segments underperformed.

Management issued full-year revenue growth guidance of 3%-5%, down from prior targets of 8%-10%, citing ongoing inventory destocking in North America and softer international demand. Operating margin is projected at 8%-10%, below earlier forecasts of around 12%.

Shares plunged over 10% on the earnings shortfall and pared-back outlook, reflecting investor concerns over near-term profitability. Several analysts have already cut price targets and are revising 2027 earnings estimates downward.