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Mar 28, 2020
Wolverine Q1 2020 Earnings Report
Reported strong Q1 earnings results despite challenging conditions caused by the COVID-19 pandemic.
Key Takeaways
Wolverine World Wide reported a 16.1% decrease in revenue compared to the prior year, with revenue of $439.3 million. Diluted earnings per share were $0.16, down from $0.43 in the prior year. The company has implemented over $500 million in cash preservation initiatives and expects to generate $150 million to $200 million of operating cash flow in 2020.
Revenue was $439.3 million, a decrease of 16.1% compared to the prior year.
Owned eCommerce growth for the quarter was 17.5%.
Reported diluted earnings per share were $0.16, compared to $0.43 in the prior year.
Cash on hand at the end of the first quarter was $472.6 million.
Revenue by Segment
Forward Guidance
The Company expects to deliver $150 million to $200 million of operating cash flow for the year in a very challenging global retail landscape.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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