Under Armour disclosed its fourth-quarter financial results for fiscal year 2026, ending March 31, before the market opened on Tuesday. The figures fell significantly short of market expectations, triggering a sharp decline in its stock price.

The company reported quarterly revenue of $1.17 billion, well below the $1.68 billion anticipated by analysts surveyed by LSEG. On the earnings front, Under Armour posted a loss of 3 cents per share, compared to the market's expectation of a 2-cent loss.

Concurrently, the company issued a subdued outlook for fiscal 2027. Under Armour projected a low single-digit percentage decline in full-year revenue, contrasting with the average analyst forecast of a 1.6% increase to $5.05 billion. This pessimistic guidance primarily reflects ongoing pressures from weak consumer spending in the critical North American market and broader macroeconomic uncertainties.

Under Armour has faced persistent sales challenges in recent years. Since founder Kevin Plank resumed the role of Chief Executive Officer in March 2025, the company has continued its business restructuring efforts. However, elevated inflation and uncertainties stemming from tariff policies continue to dampen demand in North America. Approximately 30% of the company's merchandise is currently sourced from Vietnam, exposing it to a 20% tariff risk.

The investor response to the earnings report was highly negative, with Under Armour's stock declining approximately 14% in pre-market trading on Tuesday.