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Wolverine World Wide Beats Q3 Estimates, Lifts Full-Year Earnings Guidance

By Warren Paige

Casual footwear and apparel maker, Wolverine World Wide Inc. (NYSE: WWW) said on Tuesday that fiscal third-quarter earnings rose 66% as revenue continued to show an improvement, aided by  the acquisition of Collective Brands, last year. Shares edged up as both adjusted earnings and revenue topped analysts’ consensus estimate, according to a data compiled by Thomson Reuters. The maker of Hush Puppies and Merrell shoes also lifted its projections for full-year adjusted earnings. The Company now expects earnings to be in the range of $2.73 to $2.83 a share, which is in-line with Wall Street’s estimates. However, the revenue outlook was narrowed to $2.71 billion to $2.73 billion from $2.7 billion to $2.775 billion.

October 8th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.