Under Armour ups FY25 adjusted EPS view to 28c-30c from 24c-27c, consensus 28c

Sees FY25 revenue down 10%. Sees FY25 capital expenditures $170M-$180M. The company said, “In May 2024, Under Armour (UAA) (UA) announced a restructuring plan to improve the company’s financial and operational efficiencies. After further evaluation, in September 2024, the company disclosed additional restructuring actions, mainly centered on the decision to close one of its distribution centers in Rialto, California. This decision increased the anticipated range of its restructuring plan to between $140 million and $160 million, with up to $75 million expected to be cash-related and as much as $85 million projected as non-cash charges. By the end of the third fiscal quarter of 2025, the company had recognized $42 million in restructuring and impairment charges and $15 million in other related transformational expenses under the plan. Of the total $57 million incurred thus far, $40 million is cash-related, and $17 million is non-cash-related. The company anticipates that the remaining charges outlined in the updated restructuring plan will be realized during fiscal years 2025 and 2026.”