The strong results and raised guidance suggest continued momentum in Wolverine's core brands, particularly Saucony and Merrell. The share buybacks indicate confidence in future cash flows. Traders should monitor whether the 2026 margin guidance (46.0%) materializes despite inflationary pressures.
Price Chart
Executive Summary
Wolverine Worldwide reported strong full-year 2025 results with revenue of $1.87 billion (up 6.8% YoY) and adjusted EPS of $1.35 (up 53.4% YoY), driven by growth in its Active Group and Saucony brand. The company raised its 2026 guidance to $1.96-$1.985 billion in revenue and $1.35-$1.50 in adjusted EPS, while repurchasing $15 million in shares during Q4.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue was $1.874 billion, up 6.8% YoY, with Active Group growing 13.0% and Saucony up 31.1%
- Adjusted EPS for 2025 was $1.35, a 53.4% increase from $0.88 in 2024
- Company raised 2026 guidance to $1.96-$1.985 billion in revenue (4.6%-5.9% growth) and $1.35-$1.50 in adjusted EPS
- Gross margin improved to 47.3% in 2025, up 300 bps from 44.3% in 2024
- Company repurchased $15 million in shares during Q4 and has $135 million remaining under its buyback authorization
Financial Impact
Revenue increased $119.3 million YoY to $1.874 billion, with adjusted EPS up $0.47 to $1.35
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Active Group | $1.4B | +13.0% |
| Work Group | $422.2M | -7.3% |
| Saucony | $533.1M | +31.1% |
Risk Factors
- Work Group revenue declined 7.3% YoY to $422.2 million, indicating ongoing challenges in this segment
- 2026 gross margin guidance of 46.0% represents a 130 bps decline from 2025 levels, potentially due to higher U.S. tariffs
- Direct-to-consumer revenue declined 1.7% YoY to $475.5 million, suggesting challenges in this channel
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-011956 |
| Document: www-20260226.htm | 0001628280-26-011956 |
| Document: 0001628280-26-011956-index-headers.html | 0001628280-26-011956 |
| Document: 0001628280-26-011956-index.html | 0001628280-26-011956 |
| Document: 0001628280-26-011956.txt | 0001628280-26-011956 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 14, 2026 23w ago | 8-K | $15.22 $18.92 | ▲ +24.31% | ▲ +20.72% | $19.70 (+29.43%) |
Mar 25, 2026 30w ago | DEFA14A | $16.37 $16.85 | ▲ +2.91% | ▼ −11.04% | $19.70 (+20.35%) |
Feb 26, 2026 34w ago | 8-K | $19.86 $16.17 | ▼ −18.57% | ▼ −26.32% | $19.70 (−0.79%) |
US Market Status
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