Stock Story -
Footwear conglomerate Wolverine Worldwide (NYSE:WWW) will be announcing earnings results tomorrow before the bell. Here's what to look for.
Wolverine Worldwide beat analysts' revenue expectations by 8.1% last quarter, reporting revenues of $390.8 million, down 24.5% year on year. It was a solid quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Wolverine Worldwide a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Wolverine Worldwide's revenue to decline 21.1% year on year to $410.8 million, improving from the 22.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.11 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Wolverine Worldwide has missed Wall Street's revenue estimates six times over the last two years.
Looking at Wolverine Worldwide's peers in the footwear segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Steven Madden (NASDAQ:SHOO) delivered year-on-year revenue growth of 17.6%, meeting analysts' expectations, and Crocs reported revenues up 3.6%, in line with consensus estimates. Steven Madden traded down 2.2% following the results while Crocs was also down 8.4%.
Read the full analysis of Steven Madden's and Crocs's results on StockStory.
Investors in the footwear segment have had steady hands going into earnings, with share prices flat over the last month. Wolverine Worldwide is up 2.6% during the same time and is heading into earnings with an average analyst price target of $16 (compared to the current share price of $13.24).