Wolverine: Q3 Earnings Snapshot

ROCKFORD, Mich. (AP) _ Wolverine World Wide Inc. (WWW) on Wednesday reported a loss of $200,000 in its third quarter.

The Rockford, Michigan-based company said it had a loss of less than 1 cent on a per-share basis. Earnings, adjusted to extinguish debt and for non-recurring costs, came to 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The footwear maker posted revenue of $636.7 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $654.1 million.

For the current quarter ending in December, Wolverine expects its per-share earnings to range from 38 cents to 43 cents.

The company expects full-year earnings in the range of $2.05 to $2.10 per share, with revenue expected to be $2.4 billion.


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

Categories: Business News