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Oct 02, 2021
Wolverine Q3 2021 Earnings Report
Reported strong double-digit revenue growth and exceptional earnings leverage.
Key Takeaways
Wolverine Worldwide reported strong Q3 2021 financial results with a 29.1% increase in revenue compared to the prior year, reaching $636.7 million. The company's adjusted diluted earnings per share were $0.62, up from $0.35 in the prior year. Despite supply chain disruptions, demand for the company's brands remains strong, and the acquisition of Sweaty Betty is expected to fuel further growth.
Reported revenue increased by 29.1% to $636.7 million compared to the prior year.
eCommerce revenue was up 45% versus the prior year and up 126% versus 2019.
Adjusted diluted earnings per share were $0.62, compared to $0.35 in the prior year.
The company acquired women’s activewear brand Sweaty Betty, which is expected to fuel growth.
Revenue by Segment
Forward Guidance
For the full 2021 fiscal year, the Company now expects revenue of approximately $2.4 billion resulting in nearly 35% growth versus the prior year. Reported diluted earnings per share are now expected to be in the range of $1.16 to $1.21, and adjusted diluted earnings per share are now expected to be in the range of $2.05 to $2.10.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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