WWW - Wolverine World Wide Non-GAAP EPS of $0.19 in-line revenue of $589.1M beats by $6.13M

2023-08-10 06:31:48 ET

• Wolverine World Wide press release ( NYSE: WWW ): Q2 Non-GAAP EPS of $0.19 in-line.
• Revenue of $589.1M (-17.4% Y/Y) beats by $6.13M .
• Revenue from the ongoing business was $578.2 million and declined 13.8% on a constant currency basis.
• FY23 outlook:
• Revenue from our ongoing business is expected to be in the range of $2.26 billion to $2.28 billion, representing a decline of approximately 10.7% to 10.0% versus the prior year
• Gross margin is expected to be approximately 39.4% and adjusted gross margin is expected to be approximately 40.0%
• Operating margin is expected to be approximately 4.8%, and adjusted operating margin is expected to be approximately 5.0%
• The effective tax rate is expected to be approximately 18.2%.
• Diluted earnings per share are expected to be between $0.43 to $0.53 and adjusted diluted earnings per share are expected to be between $0.45 to $0.55.

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