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Wolverine World Wide Reports Higher Fiscal Q1 Results, Raises Full-Year Projections

05/12/2021 03:15

07:12 AM EDT, 05/12/2021 (MT Newswires) -- Wolverine World Wide (WWW) reported Wednesday fiscal Q1 adjusted earnings of $0.40 per share that increased from $0.28 a year ago. The result compares with the $0.41 EPS consensus from analysts surveyed by Capital IQ.

The footwear manufacturer said revenue also climbed to $510.7 million from $439.3 million in Q1 of fiscal 2020. The CapIQ mean for the company's fiscal Q1 revenue stood at $508.4 million. Wolverine World Wide said eCommerce revenue grew 83.6% during the quarter.

Wolverine World Wide raised its fiscal year projections mid the improved fiscal Q1 results. The company said it now expects $2.24 billion to $2.3 billion in fiscal 2021 revenue, up from the previous range of $2.19 billion to $2.25 billion, and $1.95 to $2.10 in adjusted EPS compared with the previous forecast of $1.90 to $2.05

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