Footwear conglomerate Wolverine Worldwide (NYSE: WWW) will be reporting earnings this Wednesday before market open. Here’s what to look for.
Wolverine Worldwide beat analysts’ revenue expectations by 4.1% last quarter, reporting revenues of $412.3 million, up 4.4% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Wolverine Worldwide a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Wolverine Worldwide’s revenue to grow 6.2% year on year to $451.4 million, a reversal from the 18.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Wolverine Worldwide has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Wolverine Worldwide’s peers in the footwear segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Nike’s revenues decreased 12% year on year, beating analysts’ expectations by 3.4%, and Deckers reported revenues up 16.9%, topping estimates by 7.2%. Nike traded up 15.2% following the results while Deckers was also up 11.3%.
Read our full analysis of Nike’s results here and Deckers’s results here.
There has been positive sentiment among investors in the footwear segment, with share prices up 2.5% on average over the last month. Wolverine Worldwide is up 17.1% during the same time and is heading into earnings with an average analyst price target of $24.89 (compared to the current share price of $22.88).
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