NYSE$WWW
Wolverine World Wide Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported better-than-expected revenue and earnings, while executing turnaround plan.
Wolverine Worldwide reported second-quarter revenue of $425.2 million and EPS of $0.17, exceeding expectations. The company is executing its turnaround plan, lowering debt and inventory levels, and expanding gross margin. They are beginning to see proof points of growth driven by stronger product pipelines and improved demand creation.
- Delivered better-than-expected revenue and earnings in Q2 2024.
- Lowered debt and inventory levels significantly.
- Expanded gross margin meaningfully.
- Observed proof points of inflection to growth.
Headline financials
Revenue & EPS history
Wolverine · Revenue · Quarterly
$425M
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
Company expects revenue from its ongoing business to be approximately $1.71 to $1.73 billion. Gross margin of approximately 44.5%. Operating margin to be approximately 6.0 % and adjusted operating margin to be approximately 7.4%. Diluted earnings per share in the range of $0.53 to $0.63 and adjusted diluted earnings per share in the range of $0.75 to $0.85.
Tailwinds
- Revenue from its ongoing business to be approximately $1.71 to $1.73 billion.
- Gross margin of approximately 44.5%, up 460 basis points compared to 2023.
- Operating margin to be approximately 6.0 %.
- Adjusted operating margin to be approximately 7.4%, up 350 basis points compared to 2023.
- Diluted earnings per share in the range of $0.53 to $0.63 and adjusted diluted earnings per share in the range of $0.75 to $0.85.
Headwinds
- Revenue represents a decline of approximately 14.2% to 13.2% compared to 2023.
- Constant currency decline of approximately 14.1% to 13.1% compared to 2023.
- Full-year EPS expectations continue to include an approximate $0.10 negative impact from foreign currency exchange rate fluctuations.
- Effective tax rate to be approximately 18.5%, as compared to the previous outlook of 18.0%
- Inventory to decline by at least $75 million at year end compared to the prior 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 Q2 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% | — | — |
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