Wolverine World Wide Q4 Loss Widens - Quick Facts

(RTTNews) - Wolverine World Wide Inc. (WWW) reported that its fourth quarter net loss attributable to the company widened to $361.6 million or $4.59 per share from $14.6 million or $0.18 per share in the prior year.

Adjusted loss per share was $0.15 compared to adjusted earnings per share of $0.37 in the previous year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Revenue for the fourth quarter was $665.0 million represented growth of 4.6% versus the prior year and growth of 8.4% on a constant currency basis. Analysts expected revenue of $663.79 million for the quarter.

Looking ahead for fiscal year 2023, the company expects earnings per share to be in the range of $1.50 to $1.70 and adjusted earnings per share of $1.40 - $1.60. Analysts expect annual earnings of $1.61 per share for fiscal year 2023.

For fiscal year 2023, the company projects revenue from ongoing business to be in the range of $2.53 billion to $2.58 billion, representing growth of approximately 0.0% to 2.0% and constant currency growth of approximately 1.0% to 3.0%.

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