Under Armour, Inc. (UAA): restructuring charge — Under Armour announces restructuring charges and $500M buyback alongside FY2024 earnings release

Under Armour, Inc.

Approved restructuring plan with pre-tax charges of $70M-$90M in FY2025, including $50M cash and $40M non-cash.
New $500M share repurchase program for Class C common stock authorized; expires May 2027.
Quarterly and full-year fiscal 2024 earnings results released; detailed figures not available in the provided filing extract.
Restructuring includes ~$15M in employee severance and $35M in transformational initiatives.
Board cites need to rebalance cost base to improve profitability and cash flow.

item 2.02 item 2.05 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Under Armour, Inc. reported financial results for the fourth quarter and fiscal year ended March 31, 2024.

Period: the fourth quarter and fiscal year ended March 31, 2024
Result: reported results

Exact text from the filing

On May 16, 2024, Under Armour, Inc. (“Under Armour”, or the “Company”) issued a press release announcing its financial results for the fourth quarter and fiscal year ended March 31, 2024.

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Under Armour, Inc. announced a restructuring with charges of approximately $70 million to $90 million.

Type: restructuring
Charge: approximately $70 million to $90 million

Exact text from the filing

On May 15, 2024, the Company’s Board of Directors approved a restructuring plan designed to rebalance the Company’s cost base to further improve profitability and cash flow generation. In connection with the restructuring plan, the Company expects to incur total estimated pre-tax restructuring and related charges of approximately $70 million to $90 million during fiscal year 2025

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Under Armour, Inc. filing history →

Source: SEC EDGAR

accession 0001336917-24-000058

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