WWW
Wolverine World Wide, Inc.18.80
+0.45+2.45%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Saucony U.S. lifestyle to contract
Q&A unpacked Saucony's U.S. lifestyle contraction in 2026 from lapping prior door expansion to ~1,000 doors, while rationalizing poor performers for a sturdier base amid broad low-to-mid-teens growth globally. Endorphin Azura smashed early demand forecasts, poised to unlock fresh distribution. Tariffs prompt no inventory rush; mitigation unchanged, hits ramp in H2 with 300bps full-year drag. SG&A leverage flows from revenue scale, efficiencies, and steady marketing at 2025 levels. Answers largely affirm scripted momentum. U.S. lifestyle resets matter for thesis. Watch distribution discipline, tariff twists.
Key Stats
Market Cap
1.54BP/E (TTM)
17.57Basic EPS (TTM)
1.07Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Wolverine World Wide posted FY2025 revenue of $1.9B, up 6.8% y/y, with Active Group surging 13% on Saucony (+$127M) and Merrell (+$51M) strength in wholesale and international, while Work Group dipped 7.3% amid softer demand. Gross margins leaped to 47.3% from 44.3% via cost savings and pricing, driving operating profit up 54% to $150M and diluted EPS to $1.14 from $0.55. Q4 saw $900K shares repurchased at $16/share under the $150M program, debt trimmed to $622M with $510M revolver availability, and $206M cash. Operating cash flow slowed to $140M. Active Group accelerated momentum. Supply chain disruptions from Asia sourcing loom large.
8-K
Q4 revenue beats, 2026 outlook
Wolverine World Wide beat expectations with Q4 revenue up 4.6% to $517.5M, driven by 26.4% Saucony growth, while Work Group fell 11.3%. Full-year revenue rose 6.8% to $1.874B, gross margin hit 47.3%, and adjusted EPS soared 53.4% to $1.35. Net debt dropped 16.2% to $415M. 2026 guides $1.96B-$1.985B revenue, adjusted EPS $1.35-$1.50—but gross margin slips to 46.0%. Momentum builds.
10-Q
Q3 FY2025 results
Wolverine World Wide posted Q3 revenue of $470.3M, up 6.8% y/y from $440.2M, with gross margin expanding to 47.5% from 45.1% on higher full-price sales and supply chain gains. Operating profit rose 14.1% y/y to $39.6M, while diluted EPS ticked up to $0.30 from $0.28 (confirmed vs. 81.7M diluted shares). Active Group drove gains with 10.7% y/y revenue growth to $352.8M, while Work Group dipped 2.9%. Cash fell to $133.9M amid $6.2M YTD operating cash use (derived: OCF -$6.2M less $13.9M capex); revolver draws rose to $130M under the new $600M facility to 2030 (4% senior notes $550M due 2029). Yet Sweaty Betty® goodwill ($55.8M) and trade name ($104.8M) sit tight on thin valuation cushions.
8-K
Q3 revenue up 6.8%, margins soar
Wolverine World Wide posted Q3 revenue of $470.3M, up 6.8% reported and 5.5% constant currency from $440.2M, fueled by Saucony's 27.0% surge while Work Group dipped 2.9%. Gross margin hit 47.5%, up 240 bps, driving adjusted EPS to $0.36 from $0.28. Full-year 2025 guide holds revenue at $1.855-1.870B, adjusted EPS $1.29-1.34. Inventory switched to FIFO.
8-K
Credit facility downsized, extended
Wolverine World Wide amended its credit agreement on September 24, 2025, slashing its revolving facility to $600 million from $800 million while eliminating the term loan A and refinancing its $25 million outstanding balance. Maturity extends to September 24, 2030, with interest tied to SOFR plus margins from 1.25% to 2.25% based on leverage. It fits ongoing capital needs. The next day, it pushed its receivables purchase agreement termination to September 25, 2028. Debt reshaped, but covenants bind tight.
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