Wolverine World Wide Falls 8% Following Preliminary Q4 Financial Report

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Wolverine World Wide, Inc. WWW fell over 8 percent in after hours trading Monday following a disappointing preliminary financial report for Q4 and 2015.

Revenue for the fourth quarter is expected to come in at approximately $808 million, above analyst estimates of $790.15 million and representing growth of 9.1 percent compared to prior-year revenue of $741 million.

Adjusted diluted earnings per share for the full-year 2014 are expected at the high end of the previous earnings guidance of $1.57 to $1.63 per share.  On a reported basis, diluted earnings per share to be consistent with the previous guidance of $1.32 to $1.38. Analysts had expected full year EPS at $1.61.

According to the Company, due to strategic brand-building investments combined with headwinds from foreign currency and pension expenses (together, approximately $0.18 to $0.22 per share), full-year 2015 adjusted diluted earnings per share are expected to be approximately flat compared to 2014.

Wolverine World Wide, Inc. traded at $27.00 in the after hours session, down 8.88 percent.

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Posted In: EarningsNewsGuidance
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