Wolverine World Wide Reports Strong Second Quarter Earnings and Updates Full-Year Outlook
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Wolverine World Wide (WWW) Tops Q2 EPS by 2c, Revenues Beat; Offers FY19 EPS/Revenue Outlook
August 7, 2019 6:33 AM EDTWolverine World Wide (NYSE: WWW) reported Q2 EPS of $0.52, $0.02 better than the analyst estimate of $0.50. Revenue for the quarter came in at $568.6 million versus the consensus estimate of $575.2 million.
SECOND QUARTER 2019 REVIEW
Reported revenue of $568.6 million increased 0.3% as compared to the prior year and adjusting for currency, increased 1.1%.Reported gross margin of 40.5%, was in line with expectations, and compared to 41.3% in the prior year.Reported operating margin was 9.8%. Adjusted operating margin of 11.1%, was in line with expectations, and compared to 12.5% in the prior year.The reported tax rate... More