Wolverine: Q4 Earnings Snapshot
ROCKFORD, Mich. (AP) — ROCKFORD, Mich. (AP) — Wolverine World Wide Inc. (WWW) on Wednesday reported a loss of $91.2 million in its fourth quarter.
On a per-share basis, the Rockford, Michigan-based company said it had a loss of $1.15. Losses, adjusted for non-recurring costs, came to 30 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The footwear maker posted revenue of $526.7 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $521.1 million.
For the year, the company reported a loss of $39.6 million, or 51 cents per share. Revenue was reported as $2.24 billion.
Wolverine expects full-year earnings in the range of 65 cents to 85 cents per share, with revenue in the range of $1.7 billion to $1.75 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WWW at https://www.zacks.com/ap/WWW