WWW - Wolverine World Wide Non-GAAP EPS of $0.09 beats by $0.06 revenue of $599.4M beats by $21.87M

2023-05-10 06:32:37 ET

• Wolverine World Wide press release ( NYSE: WWW ): Q1 Non-GAAP EPS of $0.09 beats by $0.06 .
• Revenue of $599.4M (-2.5% Y/Y) beats by $21.87M .

• FULL-YEAR 2023 OUTLOOK

• • Revenue from our ongoing business is expected to be in the range of $2.53 billion to $2.58 billion vs $2.55B consensus, representing growth of approximately 0.0% to 2.0% and constant currency growth of approximately 1.0% to 3.0%.
  • Gross margin is expected to be approximately 41.3% and adjusted gross margin is expected to be approximately 42.0%
  • Operating margin is expected to be approximately 8.7%, and adjusted operating margin is expected to be approximately 8.5%
  • The effective tax rate is expected to be approximately 21.0%.
  • Diluted earnings per share are expected to be between $1.50 to $1.70 and adjusted diluted earnings per share are expected to be between $1.40 to $1.60 vs $1.46 consensus. These full-year EPS expectations include an approximate $0.14 negative impact from foreign currency exchange rate fluctuations.
  • Diluted weighted average shares are expected to be approximately 79.3 million.
  • Inventory is expected to improve by approximately $225 million by the end of the year

For further details see: