Wolverine World Wide (WWW) saw its stock plummet by 5.06% on Thursday, following the release of its full year 2024 results and outlook for 2025. The company's shares fell sharply despite reporting better-than-expected Q4 performance, as investors reacted to a relatively modest growth outlook for the upcoming year and lingering concerns about certain business segments.
In its earnings report, WWW posted a 22% decline in revenue for 2024, although it returned to profitability with a net income of $47.9 million, up from a loss in 2023. However, earnings per share missed analyst expectations by 25%, and the company's shares were down 15% from a week ago. Adding to the pressure, Baird analyst Jonathan Komp lowered the firm's price target on WWW to $18 from $21, reflecting a more cautious view on the stock's prospects.
Looking ahead, WWW's revenue guidance for 2025 is in the range of $1.795 billion to $1.825 billion, representing growth of 2.5% to 4.3%. This outlook factors in a $40 million headwind from foreign exchange rates, with constant currency growth expected to be around 4.2% to 5.9%. While the company is investing in key brands like Saucony and Merrell, and anticipating growth in segments like Active Group, challenges persist in areas like the Work Group, which is expected to see a slow start to the year.
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