Wolverine Worldwide Q4 revenue down 20.8% to $526.7M; guides 2024 adjusted EPS $0.65-$0.85

WOLVERINE WORLD WIDE INC /DE/

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

Q4 reported diluted EPS loss $1.15; adjusted diluted EPS loss $0.30.
Full-year 2023 revenue $2.24B, down 16.5%; adjusted EPS $0.05 vs $1.37 prior year.
2024 outlook: ongoing revenue $1.70-$1.75B, gross margin ~44.5% (up 460 bps), adjusted EPS $0.65-$0.85.
Net debt reduced to $740M (2.9x leverage); inventory down ~50% YoY to $373.6M.
Sperry sold in Jan 2024; expects $140M incremental cost savings in 2024.

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 1.0

WOLVERINE WORLD WIDE INC /DE/ reported fourth quarter of 2023 ended December 30, 2023 results: EPS ($1.15).

Period: fourth quarter of 2023 ended December 30, 2023
EPS: ($1.15)
Result: reported results

Exact text from the filing

On February 21, 2024, Wolverine World Wide, Inc. (the “Company”) issued a press release and posted an investor presentation to its website, www.wolverineworldwide.com, announcing its financial results for the Company’s fourth quarter of 2023 and its 2023 fiscal year ended December 30, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

WOLVERINE WORLD WIDE INC /DE/ reported 2023 fiscal year ended December 30, 2023 results: EPS $(0.51).

Period: 2023 fiscal year ended December 30, 2023
EPS: $(0.51)
Result: reported results

Exact text from the filing

On February 21, 2024, Wolverine World Wide, Inc. (the “Company”) issued a press release and posted an investor presentation to its website, www.wolverineworldwide.com, announcing its financial results for the Company’s fourth quarter of 2023 and its 2023 fiscal year ended December 30, 2023.

View on SEC.gov

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WOLVERINE WORLD WIDE INC /DE/ filing history →

Source: SEC EDGAR

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