WOLVERINE WORLD WIDE Reports 17.4% Decrease in Q2 FY2023 Revenue at USD 589.1 Million
August 23, 2023
🌥️Earnings Overview
WOLVERINE WORLD WIDE ($NYSE:WWW) revealed their Q2 FY2023 earnings results on June 30 2023, with a total revenue of USD 589.1 million, signifying a 17.4% drop from the year before. Net income for the quarter was USD 24.0 million, an 80.7% decline from the same period in the previous year.
Analysis
GoodWhale provides an in-depth analysis of WOLVERINE WORLD WIDE’s financials. Based on the Star Chart, this company has an intermediate health score of 6/10, which is considered good considering both its cashflow and debt. This means that WOLVERINE WORLD WIDE is likely to pay off its debt and be able to fund future operations. WOLVERINE WORLD WIDE is classified as a ‘cow’, which means that it has a track record of paying out consistent and sustainable dividends. This type of company may be of interest to investors who are looking for steady income, such as retirees or those receiving Social Security payments. They can count on the dividends to add to their income and not worry about sudden cutbacks. The Star Chart of WOLVERINE WORLD WIDE reveals it is strong in asset and dividend, medium in profitability and weak in growth. This makes them a good choice for investors who are looking for a steady return but don’t want to take too much risk. For this reason, more conservative investors may be drawn to this company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for WWW. More…
| Total Revenues | Net Income | Net Margin |
| 2.54k | -278.6 | 1.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for WWW. More…
| Operations | Investing | Financing |
| 114.9 | 42.9 | -121.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for WWW. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.36k | 1.99k | 4.36 |
Key Ratios Snapshot
Some of the financial key ratios for WWW are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.9% | 11.0% | -11.9% |
| FCF Margin | ROE | ROA |
| 3.2% | -56.2% | -8.0% |
Peers
Wolverine World Wide Inc is one of the largest manufacturers of footwear and apparel in the world. Their products are sold in over 170 countries and they have over 30,000 employees. Their competitors are Wojas SA, Campus Activewear Ltd, and Metro Brands Ltd.
– Wojas SA ($LTS:0LZM)
Wojas SA is a Polish footwear company. The company has a market cap of 60.09M as of 2022 and a Return on Equity of 18.91%. Wojas SA manufactures and sells footwear for men, women, and children. The company offers a wide range of products, including shoes, boots, sandals, and slippers. Wojas SA also manufactures and sells accessories, such as handbags, belts, and wallets.
– Campus Activewear Ltd ($BSE:543523)
Campus Activewear Ltd is a sportswear company that designs, manufactures, and markets sportswear and equipment for men, women, and children. The company has a market capitalization of 172.75 billion as of 2022 and a return on equity of 31.81%. Campus Activewear Ltd is headquartered in London, England.
– Metro Brands Ltd ($BSE:543426)
Macau-based Galaxy Entertainment Group Limited (GEG) is a gaming, entertainment, and resort conglomerate. The company develops, owns, and operates hotels, casinos, and integrated resorts in Macau, China. As of June 2020, GEG’s market capitalization was US$228.75 billion. The company’s return on equity was 46.6% as of 2020.
GEG was founded in 1988 by Lui Che Woo and is headquartered in Cotai, Macau. The company operates six integrated resorts in Macau, including the Galaxy Macau, Broadway Macau, StarWorld Hotel, and Hotel Okura Macau. GEG also has projects under development in Cotai, including the Galaxy Phase 3 development and the Wuhan International Resort.
Summary
WOLVERINE WORLD WIDE reported its Q2 FY2023 earnings on June 30 2023 with total revenue of USD 589.1 million, a decrease of 17.4% from the same period in the previous year. Net income for the quarter was USD 24.0 million, a decrease of 80.7% compared to the same period last year. In response to this news, the stock price moved down.
For investors, this news is a sign of a weak performance in the company and should be taken into consideration when making investment decisions. It is important to conduct further research and examination of the company’s financials to get a full understanding of the potential risks and rewards before making an investment in WOLVERINE WORLD WIDE.
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