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Sep 27, 2025
Wolverine Q3 2025 Earnings Report
Wolverine Worldwide posted solid Q3 2025 results, led by strong performance in the Active Group and record gross margin.
Key Takeaways
Wolverine Worldwide reported Q3 2025 revenue of $470.3 million and EPS of $0.30. The company achieved a record gross margin and improved operating performance year-over-year, with Saucony and Merrell delivering standout growth.
Q3 2025 revenue increased to $470.3 million from $440.2 million
Net income rose to $25.1 million from $23.2 million in Q3 2024
Record gross margin of 47.5%, up from 45.1% last year
Adjusted EPS grew to $0.36 from $0.28
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For FY2025, Wolverine expects continued growth, projecting revenue of $1.855–$1.870B, with enhanced gross and operating margins driven by supply chain savings, improved product mix, and operational efficiency.
Positive Outlook
- FY2025 revenue expected to grow 6.0%–6.8%
- Gross margin projected to improve to 47.1%
- Adjusted operating margin expected at 8.9%
- Adjusted EPS guided to $1.29–$1.34
- Inventory remains under control, supporting cash flow
Challenges Ahead
- Sweaty Betty and Wolverine brands posted YoY revenue declines
- Direct-to-Consumer revenue fell 5.0% YoY
- Operating expenses increased 12% YoY
- Incremental U.S. tariffs partially offset gross margin gains
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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