Wolverine World Wide (NYS: WWW) reported earnings on April 16. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 23 (Q1), Wolverine World Wide beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share increased significantly. GAAP earnings per share dropped.
Margins shrank across the board.
Wolverine World Wide reported revenue of $645.9 million. The 11 analysts polled by S&P Capital IQ looked for revenue of $630.5 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $322.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.81. The 12 earnings estimates compiled by S&P Capital IQ forecast $0.55 per share. Non-GAAP EPS of $0.81 for Q1 were 27% higher than the prior-year quarter's $0.64 per share. GAAP EPS of $0.60 for Q1 were 6.3% lower than the prior-year quarter's $0.64 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 40.6%, 40 basis points worse than the prior-year quarter. Operating margin was 10.2%, 120 basis points worse than the prior-year quarter. Net margin was 4.6%, 510 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $601.4 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $2.72 billion. The average EPS estimate is $2.63.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 153 members out of 165 rating the stock outperform, and 12 members rating it underperform. Among 56 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 54 give Wolverine World Wide a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Wolverine World Wide is hold, with an average price target of $46.44.
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The article Wolverine World Wide Crushes Earnings Estimates originally appeared on Fool.com.
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