WWW earnings analysis
What we found in WWW's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Wolverine Worldwide delivered solid Q2 execution, with revenue of $506.4 million up 6.8% year over year, operating margin increasing to 9.3%, and diluted EPS rising to $0.37. The company raised full-year revenue and EPS outlooks, but gross margin declined to 46.5% as tariffs weighed on profitability. Foreign-exchange exposure increased, while the filing reported $54.0 million of variable-rate debt and no material changes to the risk-factor assessment.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue growth and consensus beat
- Q2 revenue was $506.4 million, up 6.8% year over year from $474 million and approximately 10.6% sequentially from $458 million. Revenue exceeded the $501.4 million consensus estimate.
- Operating leverage improved
- Operating margin expanded to 9.3% from 8.6% year over year and 7.4% in Q1 2026, while diluted EPS increased to $0.37 from $0.32 year over year and $0.24 sequentially.
- Full-year outlook raised
- Management raised full-year revenue guidance to $1.980-$2.000 billion and diluted EPS guidance to $1.48-$1.58, from prior diluted EPS guidance of $1.39-$1.54.
- Expanded currency hedging
- The company had $326.3 million of outstanding forward currency contracts at July 4, 2026, compared with $244.8 million at June 28, 2025, providing hedging coverage for foreign-currency inventory purchases and translation exposure.
- Variable-rate debt quantified
- Variable-rate debt was $54.0 million at July 4, 2026, limiting the directly disclosed exposure to interest-rate changes from borrowings under the Revolving Facility.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Tariffs pressured gross margin
- Gross margin declined to 46.5% from 47.2% year over year, with tariffs identified as a pressure on profitability. Management nevertheless raised full-year gross-margin guidance to 46.9% from 46.4%.
- Foreign-exchange headwind
- The stronger U.S. dollar reduced the value of foreign-subsidiary net assets by $5.4 million from January 3, 2026 to July 4, 2026; the prior-year comparison showed a $25.3 million increase from currency movements.
- No new risk-factor changes
- The filing states there were no material changes to the risk-factor assessment from the 2025 Form 10-K, effectively identifying 0 material risk-factor updates in this quarter. However, variable-rate debt of $54.0 million remains exposed to interest-rate changes.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.37
- Gross margin
- 46.5%
- Operating margin
- 9.3%
What they said about what is next.
Full-year revenue guidance was raised to $1.980-$2.000 billion and diluted EPS guidance to $1.48-$1.58, versus prior diluted EPS guidance of $1.39-$1.54. Adjusted diluted EPS guidance is $1.55-$1.65 versus $1.43-$1.58 previously; gross-margin guidance increased to 46.9% from 46.4% and operating-margin guidance to 9.5% from 9.2%.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 14, 2026
- Wolverine World Wide's Q1 2026 results exceeded expectations with revenue of $457.6 million and diluted EPS of $0.24, both higher than the consensus estimates. The company saw strong growth in its Active Group segment,…
- 10-K · February 27, 2026
- Wolverine World Wide reported improving top-line and margin performance through 2025, with FY2025 revenue of $1.874B (sum of quarterly results) and FY2025 diluted EPS of $1.18. Q4 2025 results beat estimates with…
- 10-Q · November 6, 2025
- Wolverine World Wide reported Q3 revenue of $470.3 million, up from $440.2 million a year ago, with gross profit of $223.2 million and diluted EPS of $0.30. Gross margin expanded to ~47.5% and operating margin to ~8.4%;…
- 10-Q · May 8, 2025
- Wolverine World Wide reported quarter revenue of $412.3M (up from $394.9M YoY) with gross margin expanding to 47.3% and operating profit of $19.7M versus an operating loss of $3.1M a year ago. Diluted EPS was $0.13 (vs.…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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