Wolverine World Wide Q4 Adj. Profit Rises; Revenue Up 9.4% Excl. Sweaty Betty

(RTTNews) - Wolverine World Wide, Inc. (WWW) reported fourth quarter adjusted earnings per share of $0.41. On a constant currency basis, adjusted earnings per share was $0.39 compared to $0.21, a year ago. Adjusted earnings per share, excluding Sweaty Betty, was $0.31 compared to $0.21, prior year.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.40, for the quarter. Analysts' estimates typically exclude special items.

Net loss attributable to Wolverine World Wide was $14.6 million compared to a loss of $170.7 million, last year. Loss per share was $0.18, compared to a loss of $2.10.

Fourth quarter revenue was $635.6 million, up 24.7% from prior year. On a constant currency basis, revenue was up 24.6%. Excluding Sweaty Betty, revenue increased 9.4% from prior year. Analysts on average had estimated $629.16 million in revenue.

For fiscal 2022, the company expects revenue to be in the range of $2.775 billion to $2.850 billion, representing growth of approximately 15.0% to 18.0%. Earnings per share are expected to be between $2.30 to $2.45 and adjusted earnings per share are expected to be between $2.50 to $2.65, representing growth of 19.4% to 26.5%. Analysts expect the company to report profit per share of $2.62 on revenue of $2.83 billion.