Footwear manufacturer Wolverine World Wide Inc. (WWW), while reporting higher third-quarter results above market estimates, on Wednesday issued fiscal 2025 outlook.
In pre-market activity, the shares were losing around 14.4 percent to trade at $18.93.
For fiscal year 2025, the Company now expects earnings per share in the range of $1.08 to $1.13 and adjusted earnings per share in the range of $1.29 to $1.34.
Revenue is now expected to be approximately $1.855 billion to $1.870 billion, representing growth of approximately 6.0 percent to 6.8 percent compared to last year's ongoing business, and constant currency growth of approximately 5.1 percent to 6.0 percent.
The Wall Street analysts on average expect the company to report earnings of $1.33 per share on revenues of $1.87 billion. Analysts' estimates typically exclude special items.
In the third quarter, the company's earnings came in at $25.1 million, or $0.30 per share, compared to $23.2 million or $0.28 per share last year.
Adjusted earnings were $0.36 per share for the period. Analysts expected earnings of $0.33 per share.
The company's revenue for the period rose 6.8 percent to $470.3 million from $440.2 million last year. The Street expected $463.1 million.
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