Wolverine Worldwide Q4 GAAP EPS -$4.59 on $428.7M impairment; guides 2023 revenue growth 0-2%

WOLVERINE WORLD WIDE INC /DE/

2022-FY EPS reported -$2.37 revenue$2,684,800,000

Q4 revenue $665M (+4.6% YoY, +8.4% constant currency); GAAP diluted EPS -$4.59 vs -$0.18 prior year.
Q4 includes $428.7M non-cash impairment of Sperry and Sweaty Betty intangible assets.
Full-year 2022 revenue $2.68B (+11.2%); adjusted diluted EPS $1.41 vs $1.85 prior year.
Inventory reduced ~$90M sequentially to $745.2M; net debt down to $1.02B from $1.35B.
2023 guidance: ongoing revenue $2.53B-$2.58B (0-2% growth); adjusted EPS $1.40-$1.60; adjusted operating margin ~8.5%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WOLVERINE WORLD WIDE INC /DE/ reported the fiscal year ended December 31, 2022 results: revenue $2,684.8 million, EPS ($2.37).

Period: the fiscal year ended December 31, 2022
Revenue: $2,684.8 million
EPS: ($2.37)
Result: reported results

Exact text from the filing

Revenue of $2,684.8 million represents growth of 11.2% versus the prior year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WOLVERINE WORLD WIDE INC /DE/ reported the fourth quarter ended December 31, 2022 results: revenue $665.0 million, EPS ($4.59).

Period: the fourth quarter ended December 31, 2022
Revenue: $665.0 million
EPS: ($4.59)
Result: reported results

Exact text from the filing

Revenue of $665.0 million represents growth of 4.6% versus the prior year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WOLVERINE WORLD WIDE INC /DE/ updated its full-year 2023 guidance (initiated).

Period: full-year 2023
Guidance: initiated
Result: guidance update

Exact text from the filing

We expect to grow 2023 revenue from our ongoing business by approximately 0% to 2.0%

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Source: SEC EDGAR

accession 0000110471-23-000018

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