Under Armour Sees FY24 Revenue Down 2%-4%
Portfolio Pulse from Benzinga Newsdesk
Under Armour has revised its fiscal year 2024 outlook, expecting a 2-4% decrease in revenue, compared to the previous expectation of flat to slightly up. Gross margin is expected to increase by 100 to 125 basis points, and selling, general & administrative expenses are expected to be flat to slightly down. Operating income, effective tax rate, and diluted earnings per share remain unchanged. Capital expenditures are expected to reach between $230 million and $250 million.
November 08, 2023 | 12:01 pm
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Under Armour's revised FY24 outlook indicates a potential decrease in revenue, which could negatively impact the company's stock price in the short term.
Under Armour's revised outlook for FY24 indicates a potential decrease in revenue, which is a key factor investors consider when valuing a company. This could lead to a decrease in the company's stock price in the short term. However, the expected increase in gross margin and decrease in SG&A expenses could offset some of this negative impact.
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