Wolverine World Wide's Q3 revenue rises 7.5%, raises FY outlook

Overview

• Footwear and apparel maker's Q3 revenue rose 7.5% yr/yr, eighth straight quarter of growth

• Adjusted diluted EPS for Q3 more than doubled yr/yr, aided by IEEPA tariff refunds

• Company raised full-year 2026 outlook for revenue and EPS, reflecting tariff refund benefits

Outlook

• Wolverine raises 2026 revenue outlook to $2.00 bln-$2.01 bln from $1.98 bln-$2.00 bln

• Company now sees 2026 gross margin at 48.7%, up from prior view of 46.9%

• 2026 diluted EPS forecast raised to $1.88-$1.92 from $1.48-$1.58

Result Drivers

• TARIFF REFUNDS - IEEPA tariff refunds reduced cost of goods sold, boosting gross margin, operating margin and EPS

• BRAND PERFORMANCE - Growth led by Merrell and Saucony brands, per CEO Chris Hufnagel

• INTERNATIONAL SALES - Double-digit growth in international revenue supported overall results

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the footwear peer group is "buy"

• Wall Street's median 12-month price target for Wolverine World Wide, Inc. is $24.50, about 11.7% above its November 11 closing price of $21.93

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads

• Nov 12 - UK's Dr Martens H1 revenue falls on weak boots sales; uncertain on FY results

• Nov 10 - Italy's Geox 9-month sales fall 11.7% on weak demand

• Nov 10 - Switzerland's On Holding Q3 net sales rise 17%, slightly beat estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)