Wolverine World Wide Reports Strong Third Quarter Results and Maintains Full-Year Revenue Outlook
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Wolverine World Wide (WWW) Tops Q3 EPS by 6c; Maintains FY19 EPS/Revenue Outlook
November 7, 2019 6:33 AM ESTWolverine World Wide (NYSE: WWW) reported Q3 EPS of $0.68, $0.06 better than the analyst estimate of $0.62. Revenue for the quarter came in at $574.3 million versus the consensus estimate of $574.46 million.
THIRD QUARTER 2019 REVIEW
Reported revenue of $574.3 million increased 2.8% as compared to the prior year and adjusting for currency, increased 3.6%.Reported gross margin of 42.4%, was in line with expectations, and increased 80 basis points compared to 41.6% in the prior year.Reported operating margin was 11.9%. Adjusted operating margin of 14.1% exceeded expectations expanding 150 basis points compared to the prior year.Reported diluted earnings... More