Under Armour sees Q2 EPS 18c-21c, consensus 21c

Sees Q2 revenue flat to down slightly, consensus $1.58B. Sees Q2 operating income $115M-$135M. Sees inventory in Q2 up mid to high single digit percent rate. Says on track to deliver on 2024 outlook. Says using 2024 to focus on cost management and profitability. Says Q1 should be largest decline in North America this year. Says North America expected to be down 3%-4% in FY24. Says international expected to be up low double digit rate in FY24. Says expects years highest revenue growth rate in Q4. Expects Q3 to have lowest gross margin improvement. Guidance and comments taken from Q1 earnings conference call.