Wolverine World Wide Reports Strong Q4 Earnings, Exceeding Expectations
ROCKFORD, Mich. - Wolverine World Wide Inc. (WWW) announced its fourth-quarter financial results on Wednesday, reporting a net income of $24.6 million, or 29 cents per share. Excluding non-recurring costs, adjusted earnings per share were 42 cents.
These results surpassed analyst estimates, with the consensus forecast from four Zacks Investment Research analysts predicting earnings of 41 cents per share.
Revenue for the quarter reached $494.7 million, also exceeding market expectations. Analysts had projected revenue of $485.2 million.
For the full year, Wolverine reported net income of $47.9 million (58 cents per share) on revenue of $1.76 billion.
Looking ahead, the company anticipates full-year 2023 earnings per share between $1.05 and $1.20, with revenue projected in the range of $1.8 billion to $1.83 billion.
For more details, access a Zacks stock report on WWW at https://www.zacks.com/ap/WWW.