03:21 PM EDT, 07/23/2024 (MT Newswires) -- Under Armour's ( UAA ) fiscal Q1 results are expected to be in line with analysts' expectations of a "soft" quarterly report with revenue facing weaker consumer trends, UBS Securities said Tuesday in a report.

"Fundamentals remain pressured," UBS said. The firm projects a Q1 loss of $0.09 per diluted share, compared with a consensus forecast for a $0.08 loss. The company posted adjusted earnings of $0.02 a year earlier.

UBS anticipates a 13% drop in Q1 revenue to $1.15 billion with gross margin likely contracting 30 basis points to 48.9%.

Revenue in Q1 may fall 18% in North America, 3.7% in EMEA and 7.3% in APAC, while gaining 4.7% in Latin America, UBS said.

UBS still maintained its buy rating on Under Armour ( UAA ) stock with a price target of $11, citing "a prudent strategic plan to fuel durable long-term growth."

Under Armour ( UAA ) probably will reiterate its full-year EPS guidance of $0.18 to $0.21, UBS said.

Shares of Under Armour ( UAA ) fell 1.6% in recent trading Tuesday.

Price: 6.58, Change: -0.11, Percent Change: -1.64