Wolverine Worldwide Reports Strong Cash Flow and Better-Than-Expected Revenue and Earnings for the Second Quarter

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Go back to Wolverine Worldwide Reports Strong Cash Flow and Better-Than-Expected Revenue and Earnings for the Second Quarter

Baird Reiterates Outperform Rating on Wolverine World Wide (WWW) Following 2Q

August 6, 2020 6:56 AM EDT

Baird analyst Jonathan R. Komp reiterated an Outperform rating and $27.00 price target on Wolverine World Wide (NYSE: WWW) following the company's 2Q earnings report. EPS fell -84% to $0.08, but topped -$0.12 consensus.

Komp is encouraged by better-than-feared Q2 results, including solid relative performance for WWW's... More

Wolverine World Wide (WWW) Tops Q2 EPS by 21c, Revenues Beat

August 5, 2020 6:43 AM EDT

Wolverine World Wide (NYSE: WWW) reported Q2 EPS of $0.08, $0.21 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $349.1 million versus the consensus estimate of $314.96 million.

SECOND QUARTER 2020 REVIEWThe Company's results for the second quarter significantly exceeded its expectations entering the quarter, including:

Reported revenue was $349.1 million, down 38.6% versus the prior year. On a constant currency basis, revenue was down 38.3% versus the prior year. Owned eCommerce revenue grew 96.0% versus the prior year.Reported gross margin was 42.2%, compared to 40.5% in the prior year.Reported operating margin was 2.1%,... More