Wolverine World Wide Q1 Profit Surges

Wolverine World Wide, Inc. (WWW) Wednesday reported a surge in first-quarter net earnings to $38.5 million from $13.0 million last year. On a per-share basis, earnings climbed to $0.45 from $0.16 a year ago.

On average, 9 analysts estimate earnings per share in a range of $0.4 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $510.7 million from $439.3 million a year ago. Analysts were looking for $511.78 million.

The company raised full year outlook and now expects earnings in a range of $1.70-$1.85 per share. Adjusted earnings per share is expected to be in a range of $1.95-$2.10 per share. Analysts project $2.08 per share on revenue of $2.24 billion.
Revenue for fiscal 2021 is projected to grow 25-28 percent in a range of $2,240 million to $2,300 million a year ago.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The 737 MAX 10, Boeing Co.'s largest 737 Max model, is taking its maiden flight today, reports said citing people familiar with the matter. The flight after months of testing and certification will be around 10 a.m. local time from the Seattle area. The schedule could change depending on weather or other factors. Meanwhile, the jetliner is expected to enter commercial service in 2023. Medical devices supplier Smiths Medical, affiliated to Smiths Group plc, is recalling certain Jelco Hypodermic Needle-Pro Fixed Needle insulin syringes with skewed graduation markings, the U.S. Food and Drug Administration said. The recall was initiated after the company became aware of specific models and lots of Jelco insulin syringes that may exhibit skewed odd number line graduation markings. Saliva-based COVID-19 testing is rolled out as a pilot for public schools in New York City. The new two-month pilot program is being implemented in about 50 New York City public schools and utilizes Fluidigm Technology to offer RT-PCR COVID-19 testing. New York City public schools have instituted mandatory random weekly testing in all reopened school buildings to ensure safer in-person learning.
Follow RTT