Wolverine World Wide Reports First Quarter Results and Reaffirms Full-Year Outlook
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Wolverine World Wide (WWW) PT Lowered to $40 at DA Davidson
May 10, 2019 9:13 AM EDTDA Davidson analyst Michael Kawamoto lowered the price target on Wolverine World Wide (NYSE: WWW) to $40.00 (from $43.00) while maintaining a Buy rating following the company's 1Q report. WWW reported revenue and adjusted EPS of $523.4M and $0.49, compared to consensus of $535.5M and $0.47. 2Q guidance... More
Wolverine World Wide (WWW) Tops Q1 EPS by 2c, Revenues Miss; Offers FY19 EPS/Revenue Outlook
May 9, 2019 6:32 AM EDTWolverine World Wide (NYSE: WWW) reported Q1 EPS of $0.49, $0.02 better than the analyst estimate of $0.47. Revenue for the quarter came in at $523.4 million versus the consensus estimate of $533.3 million.
FIRST-QUARTER 2019 REVIEW
Reported revenue of $523.4 million decreased 2.0% during the first quarter and adjusting for currency, decreased 0.9%.Reported gross margin was 42.1%, as compared to 42.7% in the prior year.Reported operating margin was 10.0%. Adjusted operating margin was 10.9% as compared to 12.0% in the prior year.The reported tax rate was 13.2%, as compared to 15.1% in the prior year.Reported diluted earnings per share... More