--- title: "Wolverine World Wide | 10-Q: FY2027 Q1 Revenue Misses Estimate at USD 457.6 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286501225.md" datetime: "2026-05-15T03:15:55.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286501225.md) - [en](https://longbridge.com/en/news/286501225.md) - [zh-HK](https://longbridge.com/zh-HK/news/286501225.md) --- # Wolverine World Wide | 10-Q: FY2027 Q1 Revenue Misses Estimate at USD 457.6 M Revenue: As of FY2027 Q1, the actual value is USD 457.6 M, missing the estimate of USD 483.27 M. EPS: As of FY2027 Q1, the actual value is USD 0.24, missing the estimate of USD 0.2817. EBIT: As of FY2027 Q1, the actual value is USD 34.1 M. #### Consolidated Financial Metrics - Gross Margin remained consistent at 47.6% in both the first quarter of 2026 and 2025. - Operating Profit increased by 61.4% to $33.9 million in the first quarter of 2026, compared to $21.0 million in the first quarter of 2025. - Operating Expenses increased to $183.9 million in the first quarter of 2026 from $175.1 million in the first quarter of 2025, primarily due to higher advertising costs ($8.0 million), higher selling costs ($5.5 million), and higher distribution costs ($2.2 million), partially offset by lower general and administrative costs ($4.4 million) and lower environmental and other related costs ($1.9 million). - Net Interest Expense decreased to $6.5 million in the first quarter of 2026 from $8.0 million in the first quarter of 2025, mainly due to lower average principal balances of variable rate debt. - Net Earnings increased to $22.4 million in the first quarter of 2026 from $13.2 million in the first quarter of 2025. #### Segment Revenue - **Active Group**: Revenue increased by $44.9 million, or 13.7%, to $371.6 million in the first quarter of 2026 from $326.7 million in the first quarter of 2025, primarily driven by Saucony® (up $26.1 million) and Merrell® (up $19.1 million). - Wholesale revenue for the Active Group was $281.3 million in Q1 2026, up from $239.1 million in Q1 2025. - Direct-to-Consumer revenue for the Active Group was $90.3 million in Q1 2026, up from $87.6 million in Q1 2025. - **Work Group**: Revenue increased by $0.9 million, or 1.2%, to $75.7 million in the first quarter of 2026 from $74.8 million in the first quarter of 2025, primarily due to increases from HYTEST® (up $0.9 million) and Harley-Davidson® (up $0.8 million), partially offset by a decrease from Wolverine® (down $1.0 million). - Wholesale revenue for the Work Group was $67.5 million in Q1 2026, up from $66.9 million in Q1 2025. - Direct-to-Consumer revenue for the Work Group was $8.2 million in Q1 2026, up from $7.9 million in Q1 2025. - **Other Category**: Revenue decreased by $0.5 million, or 4.6%, to $10.3 million in the first quarter of 2026 from $10.8 million in the first quarter of 2025, mainly due to a decrease in Hush Puppies® royalty revenue. - Wholesale revenue for Other was $9.5 million in Q1 2026, down from $9.9 million in Q1 2025. - Direct-to-Consumer revenue for Other was $0.8 million in Q1 2026, down from $0.9 million in Q1 2025. - Total Direct-to-Consumer Revenue increased by $2.9 million, or 3.0%, in the first quarter of 2026 compared to the first quarter of 2025. #### Segment Operating Profit - **Active Group**: Operating profit increased by $8.3 million, or 14.3%, to $66.4 million in the first quarter of 2026 from $58.1 million in the first quarter of 2025, driven by revenue increases, partially offset by an 80 basis point decrease in gross margin and a $10.9 million increase in selling, general and administrative expenses. - **Work Group**: Operating profit decreased by $0.6 million, or 8.5%, to $6.5 million in the first quarter of 2026 from $7.1 million in the first quarter of 2025, due to a $2.1 million increase in selling, general and administrative expenses, partially offset by a 160 basis point increase in gross margin. - **Other Category**: Operating profit decreased by $0.4 million, or 5.3%, to $7.1 million in the first quarter of 2026 from $7.5 million in the first quarter of 2025, primarily due to lower Hush Puppies® royalty income. - **Corporate**: Expenses decreased by $5.6 million in the first quarter of 2026 compared to the first quarter of 2025, mainly due to lower corporate general and administrative costs ($2.7 million), lower environmental and other related costs ($1.9 million), and lower reorganization activities ($1.8 million). #### Cash Flow - Net Cash Used in Operating Activities was -$83.2 million for the first quarter of 2026, compared to -$83.8 million for the first quarter of 2025. - Net Cash Used in Investing Activities was -$1.9 million for the first quarter of 2026, compared to -$7.9 million for the first quarter of 2025. - Net Cash Provided by Financing Activities was $0.4 million for the first quarter of 2026, compared to $46.6 million for the first quarter of 2025. - Cash and Cash Equivalents were $119.6 million as of April 4, 2026, compared to $106.5 million as of March 29, 2025. #### Other Key Metrics - Total Inventories were $280.3 million as of April 4, 2026, compared to $279.2 million as of March 29, 2025. - Total Debt was $638.9 million as of April 4, 2026, compared to $710.8 million as of March 29, 2025. - Unborrowed Revolving Credit Facility was $492.9 million as of April 4, 2026, compared to $659.0 million as of March 29, 2025. - Environmental Remediation Reserve was $25.5 million as of April 4, 2026, with $11.1 million expected to be paid within the next twelve months. #### Future Outlook and Strategy 沃尔弗林集团 (Wolverine World Wide, Inc.) aims to build and grow high-energy brands, offering innovative products and compelling brand propositions, and expanding its global direct-to-consumer footprint. The company plans to complement footwear brands with apparel and accessories and deliver supply chain excellence. 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