Wolverine World Wide Updates FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, Wolverine World Wide, Inc. (WWW) on Wednesday updated its earnings and revenue guidance for the full year 2019, but within its previously provided guidance range.

For fiscal 2019, the company now projects earnings of about $2.06 per share and adjusted earnings of about $2.28 per share on revenues of about $2.28 billion.

Previously, the company expected earnings in the range of $2.00 to $2.15 per share and adjusted earnings in the range of $2.20 and $2.35 per share on revenues between $2.28 billion and $2.33 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.27 per share on revenues of $2.30 billion for the year. Analysts' estimates typically exclude special items.

"As we look into the second half of the year, we expect to deliver mid-single digit revenue growth driven by strength in Merrell, Sperry and Saucony," said Blake Krueger, Wolverine World Wide's Chairman, CEO and President.