Stock up almost 17% as company hits revenue targets

  • Wolverine World Wide shares rise after meeting guidance
  • Preliminary financial results for fiscal 2023 in line with projections
  • Stock up almost 17% at $9.01 in recent trading
  • On track to hit $2.24 billion in annual revenue and $527 million in Q4 revenue
  • Adjusted pre-tax earnings in line with expectations
  • Inventory expected to be $30 million lower than previous guidance
  • Net debt projected to be $100 million lower than previous guidance
  • Progress on pursuing strategic alternatives for Sperry brand

Shares of Wolverine World Wide rose after the company announced that its preliminary financial results for fiscal 2023 are in line with guidance. The stock saw a significant increase of almost 17% in recent trading, reaching $9.01. The company is on track to achieve its projected annual revenue of $2.24 billion and fourth-quarter revenue of $527 million. Adjusted pre-tax earnings are also in line with expectations. Additionally, Wolverine World Wide expects its inventory to be $30 million lower than previously guided, and net debt is projected to be $100 million lower. The company is making progress in pursuing strategic alternatives for its Sperry brand.

Public Companies: Wolverine World Wide (WWW)
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Factuality Level: 8
Justification: The article provides specific financial information about Wolverine World Wide and its preliminary financial results for fiscal 2023. The information is consistent with the company’s previous guidance and projections. There is no obvious bias or opinion presented in the article. However, the article is short and lacks in-depth analysis or context, which could affect its overall factuality level.

Noise Level: 3
Justification: The article provides straightforward information about Wolverine World Wide’s financial results and projections. It does not contain irrelevant or misleading information, and it stays on topic without diving into unrelated territories. However, it lacks scientific rigor, intellectual honesty, and in-depth analysis of long-term trends or antifragility. It also does not hold powerful people accountable or provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Wolverine World Wide

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Wolverine World Wide, a footwear maker. It provides information about the company’s preliminary financial results for fiscal 2023, which are in line with guidance. The stock of Wolverine World Wide rose by almost 17% in response to the news. There is no mention of any extreme event in the article.

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