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,…
Earnings analysis · 10-Q
WWW earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.37
What stood out
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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.
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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.
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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.
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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.
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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.
What to watch
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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%.
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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.
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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.
Management's outlook
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%.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.