Wolverine World Wide Q3 Earnings Retreat 18%

(RTTNews) - Wolverine World Wide (WWW) released a profit for third quarter that decreased compared to the same period last year.

The company said its bottom line came in at $80.7 million, or $0.48 per share. This was lower than $98.0 million, or $0.63 per share, in last year's third quarter.

Analysts had expected the company to earn $0.48 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.5% to $678.9 million. This was down from $711.1 million last year.

Wolverine World Wide earnings at a glance:

-Earnings (Q3): $80.7 Mln. vs. $98.0 Mln. last year. -Earnings Decline (Y-o-Y): -17.7% -EPS (Q3): $0.48 vs. $0.63 last year. -EPS Decline (Y-o-Y): -23.8% -Analysts Estimate: $0.48 -Revenue (Q3): $678.9 Mln vs. $711.1 Mln last year. -Revenue Change (Y-o-Y): -4.5%

-Guidance: Full year EPS guidance: $1.44 - $1.47 Full year revenue guidance: $2.69 - 2.71 Bln