Wolverine: Q3 Earnings Snapshot
ROCKFORD, Mich. (AP) _ Wolverine World Wide Inc. (WWW) on Wednesday reported third-quarter earnings of $39 million.
On a per-share basis, the Rockford, Michigan-based company said it had profit of 48 cents.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The footwear maker posted revenue of $691.4 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $714.9 million.
For the current quarter ending in December, Wolverine expects its results to range from a loss of 15 cents per share to a loss of 5 cents per share.
The company said it expects revenue in the range of $650 million to $675 million for the fiscal fourth quarter.
Wolverine expects full-year earnings in the range of $1.41 to $1.51 per share, with revenue ranging from $2.67 billion to $2.7 billion.