Wolverine World Wide
The 10-second takeaway
For the quarter ended Dec. 29 (Q4), Wolverine World Wide met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew. GAAP earnings per share dropped to a loss.
Gross margins increased, operating margins dropped, net margins dropped.
Wolverine World Wide notched revenue of $652.2 million. The 13 analysts polled by S&P Capital IQ expected a top line of $654.4 million on the same basis. GAAP reported sales were 60% higher than the prior-year quarter's $406.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.48. The 14 earnings estimates compiled by S&P Capital IQ anticipated $0.17 per share. Non-GAAP EPS of $0.48 for Q4 were 2.1% higher than the prior-year quarter's $0.47 per share. GAAP EPS were -$0.08 for Q4 compared to $0.46 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 37.4%, 50 basis points better than the prior-year quarter. Operating margin was 5.8%, 180 basis points worse than the prior-year quarter. Net margin was -0.6%, 630 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $651.8 million. On the bottom line, the average EPS estimate is $0.85.
Next year's average estimate for revenue is $2.73 billion. The average EPS estimate is $2.87.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 152 members out of 163 rating the stock outperform, and 11 members rating it underperform. Among 58 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 55 give Wolverine World Wide a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Wolverine World Wide is hold, with an average price target of $45.67.
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