Wolverine World Wide Posts Q4 Results Beat

Wolverine World Wide, a manufacturer of casual footwear and apparel, reported Wednesday Q4 adjusted net profit of $0.33 per share, unchanged from the prior year period and came in higher than the $0.31 earnings per share Street estimate provided by Capital IQ.

Revenues were $729.6 million, down from $751.2 million reported for the same period last year and came in higher than the $716.3 million Street estimate.

For 2017, the company expects adjusted earnings to range from $1.45 to $1.55 per share, straddling the $1.50 estimate, on revenues of between $2.27 billion to $2.37 billion, also straddling the $2.35 billion consensus.

By Stephen Holmes