NYSE$WWW
Wolverine World Wide Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Exceeded first quarter revenue and earnings expectations and posted record gross margin.
Wolverine Worldwide reported better-than-expected revenue and earnings in Q1 2024, with a record gross margin, acceleration in direct-to-consumer business, improving order trends across wholesale operations, and a healthier balance sheet.
- Delivered better-than-expected revenue and earnings in the first quarter.
- Achieved record gross margin in the quarter.
- Experienced acceleration in direct-to-consumer business.
- Observed improving order trends across wholesale operations.
Headline financials
Revenue & EPS history
Wolverine · Revenue · Quarterly
$395M
Revenue by segment
Wolverine · $458M total across 3 segments · Q1 2026
- Active Group$372M—81.2%
- Work Group$75.7M—16.5%
- Other$10.3M—2.3%
Forward guidance
Full year 2024 outlook is as follows:
Tailwinds
- Revenue from our ongoing business is now expected to be approximately $1.68 billion to $1.73 billion.
- Gross margin is expected to be approximately 44.5%.
- Operating margin is expected to be approximately 5.7% and adjusted operating margin is expected to be approximately 7.0%.
- Diluted earnings per share are expected to be between $0.43 and $0.63, and adjusted diluted earnings per share are expected to be between $0.65 and $0.85.
- Net Debt at year end is now expected to be approximately $565 million, a reduction of $175 million from the prior year end.
Headwinds
- Revenue from our ongoing business is now expected to be approximately $1.68 billion to $1.73 billion, which is adjusted for the new licensing model recently announced on May 1 for our Merrell and Saucony kids business. This range represents a decline compared to 2023 of approximately 15.7% to 13.2% and constant currency decline of approximately 15.5% and 13.0%.
- These full-year EPS projections include an approximate $0.10 negative impact from foreign currency exchange rate fluctuations.
- Inventory is now expected to decline by at least $75 million by year end.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-0.4%
Avg return
Earnings day
-1.1%
Avg return
5 days after
+0.1%
Avg return
30 days after
54%
35 / 65 earnings
Positive
+36.9%
Q3 2024
Best reaction
-33.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.1% | -5.8% | +16.2% | |
| Q4 2025 | +10.1% | -1.3% | -12.5% | |
| Q3 2025 | -25.1% | -26.0% | -21.2% | |
| Q2 2025 | +14.9% | +13.8% | +35.5% | |
| Q1 2025 | +10.2% | +14.0% | +19.9% | |
| Q4 2024 | -16.6% | -18.5% | -26.5% | |
| Q3 2024 | +36.9% | +37.8% | +43.2% | |
| Q2 2024 | -5.9% | -8.8% | +1.2% | |
| Q1 2024 | +17.1% | +23.0% | +14.7% | |
| Q4 2023 | +11.0% | +5.0% | +14.9% | |
| Q3 2023 | +1.2% | -1.2% | +7.8% | |
| Q2 2023 | -25.3% | -31.4% | -30.8% | |
| Q1 2023 | +6.2% | +5.4% | -4.8% | |
| Q4 2022 | +12.4% | +10.2% | +6.8% | |
| Q3 2022 | -33.7% | -33.8% | -42.0% | |
| Q2 2022 | +3.2% | +4.3% | -10.0% | |
| Q1 2022 | +2.6% | +6.5% | +19.7% | |
| Q4 2021 | -6.0% | -8.6% | -8.1% | |
| Q3 2021 | -9.8% | -9.5% | -15.2% | |
| Q2 2021 | -1.6% | +3.4% | +9.4% | |
| Q1 2021 | -10.0% | -9.1% | -12.4% | |
| Q3 2020 | -6.2% | -0.7% | +5.4% | |
| Q2 2020 | -1.4% | +4.0% | +9.6% | |
| Q1 2020 | -9.5% | +3.7% | +8.8% | |
| Q4 2019 | -6.9% | -10.8% | -53.1% | |
| Q3 2019 | +10.7% | +9.1% | +8.5% | |
| Q2 2019 | -0.6% | -7.5% | -1.7% | |
| Q1 2019 | -11.0% | -16.0% | -19.1% | |
| Q4 2018 | -8.9% | -9.0% | -12.4% | |
| Q3 2018 | -6.5% | -6.8% | -8.6% | |
| Q2 2018 | +4.7% | +4.2% | +6.6% | |
| Q1 2018 | +6.7% | +4.9% | +18.8% | |
| Q4 2017 | -0.2% | -5.9% | -7.8% | |
| Q3 2017 | +2.0% | +5.1% | +12.2% | |
| Q2 2017 | -6.6% | -2.4% | -3.3% | |
| Q1 2017 | +3.0% | +5.1% | +10.2% | |
| Q4 2016 | +3.8% | +6.4% | +3.6% | |
| Q3 2016 | -2.5% | -4.9% | +8.3% | |
| Q2 2016 | +11.2% | +9.9% | +10.9% | |
| Q1 2016 | +0.0% | — | — | |
| Q4 2015 | -0.2% | — | — | |
| Q3 2015 | -10.3% | — | — | |
| Q2 2015 | +4.7% | — | — | |
| Q1 2015 | -9.6% | — | — | |
| Q4 2014 | +3.5% | — | — | |
| Q3 2014 | +3.0% | — | — | |
| Q2 2014 | -7.8% | — | — | |
| Q1 2014 | +6.0% | — | — | |
| Q4 2013 | -8.4% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q2 2013 | +4.8% | — | — | |
| Q1 2013 | +4.1% | — | — | |
| Q4 2012 | +2.1% | — | — | |
| Q3 2012 | +1.2% | — | — | |
| Q2 2012 | +7.6% | — | — | |
| Q1 2012 | +1.7% | — | — | |
| Q4 2011 | +0.5% | — | — | |
| Q3 2011 | +1.8% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q4 2009 | +3.5% | — | — | |
| Q1 2011 | +1.1% | — | — | |
| Q3 2010 | -2.4% | — | — | |
| Q4 2010 | +0.6% | — | — | |
| Q2 2010 | +0.6% | — | — | |
| Q1 2010 | -5.2% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro