Wolverine World Wide Reports 17.4% Decrease in Total Revenue for Second Quarter of FY2023
August 13, 2023
🌥️Earnings Overview
On August 10 2023, WOLVERINE WORLD WIDE ($NYSE:WWW) reported their earnings for the second quarter of FY2023 (ending June 30 2023), showing a total revenue of USD 589.1 million, a drop of 17.4% when compared to the same period in the prior year. Net income was reported at USD 24.0 million, an 80.7% decrease.
Analysis
GoodWhale has conducted an analysis of the fundamentals of WOLVERINE WORLD WIDE and found that it is a high risk investment in terms of financial and business aspects. Specifically, the Risk Rating for WOLVERINE WORLD WIDE is high. In order to check the details of the analysis, it is recommended that potential investors register with GoodWhale. Our analysis has also revealed two risk warnings in the income sheet and balance sheet, which can be viewed upon registration. Therefore, it is important to take these warnings into account when considering whether to invest in WOLVERINE WORLD WIDE or not. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for WWW. More…
| Total Revenues | Net Income | Net Margin |
| 2.54k | -278.6 | 1.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for WWW. More…
| Operations | Investing | Financing |
| 114.9 | 42.9 | -121.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for WWW. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.36k | 1.99k | 4.36 |
Key Ratios Snapshot
Some of the financial key ratios for WWW are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.9% | 11.0% | -11.9% |
| FCF Margin | ROE | ROA |
| 3.2% | -56.2% | -8.0% |
Peers
Wolverine World Wide Inc is one of the largest manufacturers of footwear and apparel in the world. Their products are sold in over 170 countries and they have over 30,000 employees. Their competitors are Wojas SA, Campus Activewear Ltd, and Metro Brands Ltd.
– Wojas SA ($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’s second quarter of 2023 resulted in a total revenue of USD589.1 million, a 17.4% decrease from the same period last year, and net income reported at USD24.0 million, a decrease of 80.7%. This led to their stock price moving down on the day of the announcement. Investors should look for future news from the company to determine if they want to invest in WOLVERINE WORLD WIDE. They should also consider what strategies the company is taking to improve their financial performance and outlook going forward.
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