Wolverine World Wide Inc. (NYSE:WWW) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Wolverine World Wide Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 4.17% to $0.46 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Rose 87.96% to $587.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wolverine World Wide Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company beat the mean analyst estimate of $0.34. It missed the average revenue estimate of $591.03 million.
Quoting Management: “We are extremely pleased to report excellent financial results in our most recent quarter,” said Blake W. Krueger, Chairman and Chief Executive Officer. “The combined power of our brand portfolio is virtually unmatched in the industry, and the continuing global consumer interest in authentic brands anchored in performance and heritage positions us well for future growth. We continue to believe that the power of our 16-brand portfolio, a strong global infrastructure, and talented team have us poised to deliver growth and exceptional shareholder value.”
Key Stats (on next page)…