Wolverine affirms preliminary FY2023 revenue ~$2.24B; net debt better than guidance

WOLVERINE WORLD WIDE INC /DE/

2023-FY EPS reported -$0.51 revenue$2,242,900,000

Preliminary FY2023 revenue ~$2.24B; ongoing business revenue ~$2.20B; both in line with prior guidance.
Inventory ~$460M (vs guidance $490M); net debt ~$750M (vs $850M), both better than anticipated.
Asset monetization generated ~$250M cash in FY2023; sale of KY distribution center for $23M in Q4.
Strategic alternatives for Sperry brand remain on track.
Full year adjusted gross margin above 39%; Q4 above 36%.

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 fiscal year 2023 results: revenue approximately $2.24 billion. Guidance reaffirmed.

Period: fiscal year 2023
Revenue: approximately $2.24 billion
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

The Company expects the following preliminary and unaudited financial results for its ongoing business as of December 30, 2023: • Full year and fourth quarter reported revenue of approximately $2.24 billion and $527 million, respectively - in line with November guidance.

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Source: SEC EDGAR

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