Wolverine World Wide Falls 5% on Q1 Earnings

Wolverine World Wide

released its fiscal Q1 earnings results prior to the closing bell on Monday. The company reported net earnings of $31.18 million or $0.64 per share, compared to $35.86 million or $0.72 per share, in the year ago period. This compared to consensus Wall Street EPS estimates of $0.55. Revenues for the quarter were $322.81 million versus $330.87 million in last year's corresponding quarter. This compared to Wall Street consensus revenue estimates of $332.49 million. Looking ahead, WWW raised its full-year earnings per share guidance. The company now sees EPS of $2.70-$2.80, which represents growth of 8.9% to 12.9%. Revenues are now expected between $1.46 billion and $1.50 billion, representing growth of 3.6% to 6.5%. Currently, Wall Street analysts have consensus EPS estimates of $2.65 on revenue of $1.51 billion for the year. On Monday, WWW shares were trading down 4.88% to $36.04 in the wake of the earnings report.