Footwear conglomerate Wolverine Worldwide (NYSE: WWW) will be reporting results this Thursday before market open. Here’s what to look for.
Wolverine Worldwide beat analysts’ revenue expectations last quarter, reporting revenues of $506.4 million, up 6.8% year on year. It was a satisfactory quarter for the company, with full-year EPS guidance topping analysts’ expectations.
Is Wolverine Worldwide a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Wolverine Worldwide’s revenue to grow 6.3% year on year, in line with the 6.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Wolverine Worldwide has a history of exceeding Wall Street’s expectations.
Looking at Wolverine Worldwide’s peers in the consumer discretionary - footwear segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Crocs delivered year-on-year revenue growth of 4.6%, beating analysts’ expectations by 3.9%, and Steven Madden reported revenues up 15.7%, in line with consensus estimates. Crocs traded up 25.8% following the results while Steven Madden was down 15.9%.
Read our full analysis of Crocs’s results here and Steven Madden’s results here.
There has been positive sentiment among investors in the consumer discretionary - footwear segment, with share prices up 7.3% on average over the last month. Wolverine Worldwide is up 11.1% during the same time and is heading into earnings with an average analyst price target of $24.30 (compared to the current share price of $21.52).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
