Wolverine World Wide Raises Revenue And Earnings Guidance For FY24 - Update

(RTTNews) - (Adds Outlook)

Wolverine World Wide, Inc. (WWW) said it now expects fiscal 2024 earnings per share in the range of $0.56 to $0.66 and adjusted earnings per share in the range of $0.80 to $0.90. This is compared to the previous outlook for earnings per share in the range of $0.53 to $0.63 and adjusted EPS between $0.75 and $0.85. Revenue from ongoing business are expected to be approximately $1.730 to $1.745 billion. This range compares to the previous outlook of approximately $1.71 to $1.73 billion.

Q3 Results:

The company's earnings totaled $23.6 million, or $0.28 per share. This compares with $8.6 million, or $0.11 per share, in last year's third quarter. Adjusted Earnings Per Share was $0.29 compared to $0.11. The company's revenue for the quarter fell 16.6% to $440.2 million from $527.7 million last year.

Shares of Wolverine World Wide are up 5% in pre-market trade on Thursday.

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