Under Armour Reports 38% Decrease in Net Income for Fiscal 2024Under Armour (NYSE: NYSE:UAA ), an athletic performance apparel brand, has reported a 38% decrease in net income for fiscal 2024 (FY 2024) from $374.45m in fiscal 2023 (FY 2023). The company's adjusted net income stood at $245m, and its diluted earnings per share also declined to $0.52, compared to $0.81 in fiscal 2023. For the year ending 31 March, Under Armour's ( NYSE:UAA ) revenue reached $5.7bn, marking a 3.4% decrease from $5.9bn a year earlier.
Revenue in North America dropped by 8.3% to $3.5bn while international revenue rose by 8% to $2.2bn over the fiscal. The retailer's direct-to-consumer segment showed resilience, with a 3% increase in revenue to $2.3bn. This growth was attributed to a 5% rise in owned and operated store revenue and a 1% uptick in e-commerce revenue, which now represents 41% of the direct-to-consumer business.
Under Armour's ( NYSE:UAA ) gross profit remained relatively stable at $2.63bn in FY 2024, compared to $2.64bn in the previous year. The company's gross margin improved by 130 basis points to 46.1%, largely due to supply chain efficiencies that reduced freight and product costs. Under Armour's ( NYSE:UAA ) board of directors has approved a restructuring plan to boost its financial and operational efficiencies, expected to cost the company between $70m and $90m.
Under Armour ( NYSE:UAA ) president and CEO Kevin Plank said that despite a challenging retail environment in fiscal 2024, the company demonstrated disciplined expense control and delivered results that were aligned with its previous outlook. He also maintained a strong balance sheet, closing the year with a solid cash position and healthy inventory levels. Looking ahead to fiscal 2025, Under Armour ( NYSE:UAA ) anticipates operating income to be between $50m and $70m, with diluted earnings per share expected to range from $0.02 to $0.05.
The past eight years for Under Armour ( NYSE:UAA ) have been a struggle that doesn't appear to be abating. The company announced a restructuring of its business as its North America sales in its most recent quarter tumbled 10%. Looking ahead, the company cast a dour forecast for its current fiscal year, expecting sales to drop 15% to 17%. Layoffs will be part of the effort to right the ship, but executives did not specify how many employees will lose their jobs.
Under Armour ( NYSE:UAA ) also announced a $500 million share buyback, a move to reward shareholders. Plank told analysts during the earnings call on Thursday that he will shepherd a reset of the business that centers on selling fewer but more innovative products to meet the needs of athletes, significantly accelerating product development, refocusing on its men's apparel category, and reducing discounts of its products.
UAA
UAA Under Armour Options Ahead of EarningsIf you haven't bought UAA before the previous earnings:
Then analyzing the options chain and the chart patterns of UAA Under Armour prior to the earnings report this week,
I would consider purchasing the 6.50usd strike price Puts with
an expiration date of 2024-5-17,
for a premium of approximately $0.27.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
UAA Under Armour Options Ahead of EarningsAnalyzing the options chain and the chart patterns of UAA Under Armour prior to the earnings report this week,
I would consider purchasing the 7usd strike price Calls with
an expiration date of 2023-11-10,
for a premium of approximately $0.59.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Under Armour has posted a double bottom.Under Armour Inc - 30d expiry - We look to Buy at 7.05 (stop at 6.71)
Posted a Double Bottom formation.
6.97 has been pivotal.
7.00 continues to hold back the bears.
Bespoke support is located at 7.00.
Dips continue to attract buyers.
We expect prices to stall close to our bespoke level (7.00).
Our profit targets will be 7.90 and 8.10
Resistance: 7.65 / 7.88 / 8.00
Support: 7.36 / 7.20 / 7.00
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UAA has a lot of upside potential $UAANYSE:UAA
Taking a look at under armor here. Here's a ticker I completely forgot about last year lol
Looking at it here though it may be time to put this one on your watch list
could potentially double in value in the coming year.
Really like the look of this chart as a long term hold.
No trade set up since its sort of pulled away from an entry level but even still, this chart screams upside.
what's everyone's thought on UAA?
Happy Trading
$UAA - Mean Reversion/Breakout play for +20% upsideTechnical Analysis (TA)
Price on the weekly bottomed out with some reversal signs on the weekly chart.
Daily is being squeezed and there is potential for a mean reversion/breakout above $9.75 which might shift the moment to a Long with some key levels at $11 and $12.80.
Price Target
Entry $9.75
Target 1: 121.60 (+18%)
Target 2: 14.80 (+50%)
The Week Ahead: TWTR, UAA, GPN, PFE Earnings; ARKK, XBI, XRTEarnings Announcements in Options Liquid Underlyings with >70 rank and >50% 30-Day Implied:
TWTR (93 rank/90 30-day implied) (Thursday, before market open)
UAA (80/68) (Friday, before market open)
GPN (71/51) (Thursday, before market open)
PFE (76/42) (Tuesday, before market open)
Pictured here is a directionally neutral TWTR short strangle paying 1.34 on a buying power effect of 3.71 (on margin), 36.1% ROC at max; 18.1% at 50% max. It announces earnings on Thursday before market open, so look to put on a play in the waning hours of Wednesday's session if you want to take advantage of the ensuing volatility contraction post-announcement on Thursday.
For those more of a defined risk bent, consider the February 18th 25/30/44/49 iron condor, paying 1.14 at the mid price as of Friday's close on buying power effect of 3.86, 29.5% ROC at max, 14.8% at 50% max with 2 x expected move break evens.
UAA is probably small enough to short straddle/iron fly, with the February 18th 19.5 short straddle paying 2.42 on buying power of 3.93 (on margin), 61.6% ROC at max, 15.4% at 25% max. The risk one to make one iron fly would be a "stays within the expected move" sort of play with the February 18th 15.5/19.5/19.5/23.5, paying 2.03 on 1.97, 103% ROC at max; 25.8% ROC at 25% max.
The GPN February 18th 130/160 short strangle was paying 2.97 on buying power of 14.97 as of Friday's close, 19.8% ROC at max, 9.9% at 50% max. The bid/ask is showing wide in after hours, and I don't particularly like the five wides where I want to pitch my tent. This is probably why I haven't bothered to play it before.
Although PFE's 30-day is a bit <50%, I figured I'd price out a setup because of its high options liquidity. Unfortunately, it's not very compelling at the moment, with the 16 delta 48.5/58.5 in the February 18th contract paying a scant .89 on buying power of 6.12 as of Friday's close -- 14.5% ROC at max, 7.3% at 50% max.
Exchange-Traded Funds With Ranks >50 and 30-Day IV >35%:
ARKF (76/63)
XBI (71/45)
ARKK (70/67)
ARKG (70/65)
XRT (63/46)
KWEB (63/54)
SMH (60/41)
GDX (50/45)
Pick your Cathie Woods poison (ARKF, ARKK, ARKG), I guess. Otherwise, sell premium in XBI or (there's one I haven't seen in a while) ... XRT, although you're probably going to get more bang for your buck out of KWEB, with its higher 30-day.
Broad Market Exchange-Traded Funds, Ordered By Implied Volatility Rank:
QQQ (55/29)
IWM (54/30)
EFA (43/19)
SPY (41/22)
DIA (40/21)
UAA longLong going into earnings in a couple of weeks, should head to the same spot pre-earnings
They've actually turned this crap company around and they beat every quarter. If I make money on this trade, i might even drop a few bucks for earnings.
Got hammered along with retail and small caps, expect a bounce next week. Daily got oversold on RSI with positive MFI divergence
Under Armour (USA: $UAA) Likely Forming Bullish 'W' Pattern!Under Armour, Inc., together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold. It also provides various footwear products for running, basketball, cleated sports, slides, training, and outdoor. In addition, the company offers accessories, which include gloves, bags, headwear, and sports masks; and digital fitness subscriptions, as well as digital advertising through MapMyFitness platform. It primarily offers its products under the HEATGEAR, COLDGEAR, RUSH or RECOVER, UA HOVR, UA Logo, UNDER ARMOUR, UA, ARMOUR, PROTECT THIS HOUSE, I WILL, ARMOUR BRA, and ARMOUR FLEECE brands. The company sells its products through wholesale channels, including national and regional sporting goods chains, independent and specialty retailers, department store chains, mono-branded Under Armour retail stores, institutional athletic departments, and leagues and teams, as well as independent distributors; and directly to consumers through a network of 439 brand and factory house stores, as well as through e-commerce websites. Under Armour, Inc. was founded in 1996 and is headquartered in Baltimore, Maryland.
NKE time for reversal?$NKE 2HR CHART-
NKE had a nice double bottom and is currently going for that retest of the downtrend resistance (pink). Also has a nice gap fill at 132, eyeing the volume on the breakout for momentum to carry it to the next supply zone at 136. Under 125 would invalidate this idea.
UA Double Bottom IdentifiedHi - First time publisher but have sporadically used Trading View. I have been reading up and studying on technical analysis and from what I am seeing, it looks like I identified a double bottom on a stock I was already bullish on at current levels, Under Armour.
Given a move the same size as the bottom, looks like the PT would land around $13.27 give or take a few cents. I also noticed there does not seem to be much resistence running up to around $15.
Let me know your thoughts whether you agree or disagree!
Cheers & GL
Lando
Would You Rather WIN Small or LOSE Small? - 05/11/20 RECAPHi traders,
I pinpointed a nice short setup in Under Armor that worked perfectly as planned, but the sellers weren't strong enough to push it all the way to my target.
We're going to talk a bit about risk management.
My Trade:
1) UAA - SHORT @8.98, a nice breakdown, weak stock, sadly turned just 10c shy of my TP. -0.32%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -0.32%
Total PnL for the week: -0.32%
Good trades,
Tom | FINEIGHT