The earnings call reflected a positive sentiment overall with better-than-expected financial performance, successful brand strategies, and a raised year-end guidance. However, supply chain disruptions and macroeconomic challenges posed significant hurdles.

Company Guidance

In Wolverine Worldwide's third-quarter earnings call for fiscal 2024, the company reported better-than-expected results, leading to a raised guidance for the year. Revenue for the ongoing business reached $440 million, outperforming the anticipated $420 million, driven by increased demand in the active group and favorable foreign currency effects. The company achieved a record gross margin of 45.3%, marking a 380 basis point increase from the previous year, and more than doubled its earnings compared to the same quarter last year. Wolverine Worldwide also reduced its net debt to $563 million, representing a $100 million decrease from the second quarter and a $370 million reduction year-over-year. For the full year, Wolverine expects revenue from its ongoing business to range between $1.73 billion and $1.745 billion, with an adjusted gross margin of approximately 44.5% and adjusted diluted earnings per share projected to be between $0.80 and $0.90. The company anticipates fourth-quarter revenue to be between $475 million and $490 million, with a gross margin of about 44% and adjusted operating margins around 9%.

Better-than-Expected Revenue and Earnings

The company delivered better-than-expected revenue and earnings in Q3 2024, with a record gross margin for the third quarter and earnings more than doubling from a year ago.

Debt and Inventory Reduction

Significant progress was made in reducing debt and inventory, both of which are now well under half of their standings from 24 months ago.

Merrell Performance and Future Innovations

Merrell returned to growth, with notable success in its Moab Speed 2 and Agility Peak 5 products. Plans to launch the innovative Speed Arc Collection in 2025 are underway.

Saucony's Strategic Pivot and Growth

Saucony saw strong growth in the U.S. run specialty channel and executed successful collaborations. A new guide and ride models are set to be introduced in 2025.

Raising Year-End Guidance

Based on Q3 results and the outlook for Q4, Wolverine Worldwide raised both its top and bottom-line guidance for the year.

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Wolverine World Wide (WWW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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WWW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 08, 2018	2018 (Q2)	- / 0.54	0.43	25.58% (+0.11)	―	―
Nov 07, 2018	2018 (Q3)	- / 0.62	0.43	44.19% (+0.19)	―	―
Feb 20, 2019	2018 (Q4)	- / 0.52	0.41	26.83% (+0.11)	―	―
May 09, 2019	2019 (Q1)	- / 0.49	0.5	-2.00% (-0.01)	―	―
Aug 07, 2019	2019 (Q2)	- / 0.52	0.54	-3.70% (-0.02)	―	―
Nov 07, 2019	2019 (Q3)	- / 0.68	0.62	9.68% (+0.06)	―	―
Feb 25, 2020	2019 (Q4)	- / 0.59	0.52	13.46% (+0.07)	―	―
Apr 22, 2020	2020 (Q1)	- / 0.29	0.49	-40.82% (-0.20)	―	―
Aug 05, 2020	2020 (Q2)	- / 0.09	0.52	-82.69% (-0.43)	―	―
Nov 05, 2020	2020 (Q3)	- / 0.34	0.68	-50.00% (-0.34)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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WWW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$15.98	$21.70	+35.79%
Aug 07, 2024	$13.68	$12.75	-6.80%
May 08, 2024	$11.22	$12.52	+11.59%
Feb 21, 2024	$8.91	$9.08	+1.91%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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