Under Armour sees Q1 adjusted EPS (10c)-(8c), consensus 4c

Sees Q1 revenue down at low teen rate, consensus $1.31B. Sees Q1 gross margin down 20-30 basis points. Says expects gross margin to expand for rest of 2025. Says from SG&A perspective, expect to realize half of restructuring charges during Q1. Sees Q1 operating loss $35M-$40M. Sees Q1 inventory down high-single digit rate in Q1. Says men’s apparel will be highest priority. Says will streamline across the company. Says expecting lower wholesale revenue in FY25. Says significantly reducing discounting in North America. Sees Q1 capital spending $200M-$220M. Comments and guidance taken from Q4 earnings conference call earlier.