Wolverine World Wide, Inc. · NYSE:WWW
Wolverine World Wide — Q3 2025 Earnings Presentation
28 slides from Wolverine World Wide's earnings presentation, Nov 5, 2025
Slide 1: Investor Presentation | Third Quarter 2025
Investor Presentation | Third Quarter 2025
Slide 2: Forward-Looking Statements
+ Investor Presentation | 3Q25 Forward-Looking Statements This presentation contains forward-looking statements, including statements regarding the Company's outlook for 2025 including, among others: reported and constant currency revenue; reported gross margin; reported and adjusted operating margi
Slide 3: Company Overview
+ Investor Presentation | 3Q25 Company Overview 3
Slide 4: A Portfolio of Global Performance Brands
+ Investor Presentation | 3Q25 A Portfolio of Global Performance Brands Vision: Make. Every day. Better. $1.75B FY24 Adjusted Revenue1 +418% FY24 vs. FY23 Adjusted EPS1 +154% FY24 Total Shareholder Return2 BRANDS MARKETS CHANNELS Performance footwear and apparel brands with Global business diversifi
Slide 5: Brand-Building Model
+ Investor Presentation | 3Q25 Brand-Building Model Our Brand-Building Model is focused on product, storytelling, and driving the business to deliver profitable growth in line with our value creation strategy Awesome Amazing Driving the Awesome Products Storytelling Business Products Amazing Storyte
Slide 6: Key Strategic Advantages
+ Investor Presentation | 3Q25 Key Strategic Advantages AUTHENTIC, INNOVATIVE BRANDS Our brands possess deep authenticity and product design and innovation credibility ATTRACTIVE MARKETS Our brands are positioned in attractive performance categories aligned to consumer macro trends with significant
Slide 7: Strategic Advantages: Authentic, Innovative Brands
+ Investor Presentation | 3Q25 Strategic Advantages: Authentic, Innovative Brands Global outdoor performance Original running brand Premium women’s Original work brand with and lifestyle brand with renowned innovation activewear brand trusted comfort technology Est. 1983 Est. 1898 Est. 1998 Est. 188
Slide 8: Strategic Advantages: Attractive Markets
+ Investor Presentation | 3Q25 Strategic Advantages: Attractive Markets Our brands possess authenticity in attractive performance categories with significant opportunity to expand into broader lifestyle wearing occasions MARKET OPPORTUNITY (Size of circles represents estimated respective global mark
Slide 9: Strategic Advantages: Extensive Global Distribution Network
+ Investor Presentation | 3Q25 Strategic Advantages: Extensive Global Distribution Network Our brands are marketed in approximately 170 countries and territories around the world via a network of compelling direct-to-consumer experiences, leading retailers, and best-in-class distributor partners BRA
Slide 10: Strategic Advantages: Centers of Excellence
+ Investor Presentation | 3Q25 Strategic Advantages: Centers of Excellence Commercial Drivers Insights & creative talent to fuel innovation & storytelling Competitive Advantage Enabler Lean Corporate Functions Creative Insights & & PR In-house Innovation Studio In-market expertise Model & category k
Slide 11: Shareholder Value Creation Model
+ Investor Presentation | 3Q25 Shareholder Value Creation Model We aspire to deliver top-quartile total shareholder return as follows: FINANCIAL ASPIRATION CAPITAL ALLOCATION RESULTING SHAREHOLDER RETURN Growth Investments Organic Revenue Growth EPS Growth Mid- to High-Single-Digit Growth Resulting
Slide 12: Financial Results & Outlook
+ Investor Presentation | 3Q25 Financial Results & Outlook 12
Slide 13: 3Q25 Financial Results
+ Investor Presentation | 3Q25 3Q25 Financial Results Financial results for 2025, and comparable results from 2024, in each case, for our ongoing business exclude the results of the Sperry business, which was sold in January 2024. Tables are provided in the Appendix showing the impact of these adjus
Slide 14: 3Q25 Financial Results
+ Investor Presentation | 3Q25 3Q25 Financial Results Financial results for ongoing business¹ as of September 27, 2025: 3Q25 RESULTS GUIDANCE² Adjusted $470M $450M to $460M Revenue³ Y/Y: +6.9% // C$4 +5.5% Gross Margin 47.5% Approximately Y/Y: +240 bps 47.0% Adjusted 9.1% Approximately Operating Mar
Slide 15: Revenue Performance by Group
+ Investor Presentation | 3Q25 Revenue Performance by Group Active Work FY24 Results: $1,246 million (-13.4% Y/Y) FY24 Results: $455 million (-5.3% Y/Y) 3Q25 Results: $353 million (+10.7% Y/Y) 3Q25 Results: $106 million (-2.9% Y/Y) Group Group FY24 Results: $598 million (-11.5% Y/Y) FY24 Results: $1
Slide 16: 3Q25 Performance Table
+ Investor Presentation | 3Q25 3Q25 Performance Table (in millions) September 27, 2025 September 28, 2024 Y/Y Change Constant Currency Change2 Reported Segment Revenue Results: Active Group $352.8 $318.7 10.7% 8.8% Work Group $105.9 $109.1 (2.9%) (3.0%) Other $11.6 $12.4 (6.5%) (4.0%) Total Revenue
Slide 17: FY25 Guidance for Ongoing Business
+ Investor Presentation | 3Q25 FY25 Guidance for Ongoing1 Business Financial results for 2025, and comparable results from 2024, in each case, for our ongoing business exclude the results of the Sperry business. Revenue $1.855B – $1.870B Revenue is expected to increase 6.4% at the midpoint of the ra
Slide 18: Appendix
+ Investor Presentation | 3Q25 Appendix 18
Slide 19: Non-GAAP Information
+ Investor Presentation | 3Q25 Non-GAAP Information Measures referred to in this release as “adjusted” financial results and the financial results of the "ongoing business" are non-GAAP measures. Adjusted financial results exclude environmental and other related costs net of recoveries, non-cash imp
Slide 20: Non-GAAP Reconciliations
+ Investor Presentation | 3Q25 Non-GAAP Reconciliations RECONCILIATION OF REPORTED REVENUE TO ADJUSTED REVENUE ON A CONSTANT CURRENCY BASIS (Unaudited) (In millions) Constant Constant GAAP Basis Foreign GAAP Basis Reported Currency Basis Currency 2025-Q3 Exchange Impact 2024-Q3 Change 2025-Q3 Change
Slide 21: Non-GAAP Reconciliations
+ Investor Presentation | 3Q25 Non-GAAP Reconciliations RECONCILIATION OF REPORTED REVENUE TO ADJUSTED REVENUE* (Unaudited) (In millions) GAAP Basis Divestiture (1) As Adjusted Revenue - Fiscal 2025 Q3 $470.3 $— $470.3 Revenue - Fiscal 2024 Q3 $440.2 $0.1 $440.1 1. Q3 2024 adjustments reflect result
Slide 22: Non-GAAP Reconciliations
+ Investor Presentation | 3Q25 Non-GAAP Reconciliations RECONCILIATION OF REPORTED REVENUE TO ADJUSTED REVENUE* (Unaudited) (In millions) (1) GAAP Basis Divestiture As Adjusted Revenue - Fiscal 2024 $1,755.0 $4.6 $1,750.4 1. 2024 adjustments reflect the Sperry business results included in the consol
Slide 23: Non-GAAP Reconciliations
+ Investor Presentation | 3Q25 Non-GAAP Reconciliations RECONCILIATION OF REPORTED OPERATING MARGIN TO ADJUSTED OPERATING MARGIN (Unaudited) (In millions) GAAP Basis Adjustments (1) Divestiture (2) As Adjusted Operating Profit - Fiscal 2025 Q3 $39.6 $3.4 $— $43.0 Operating margin 8.4% 9.1% Operating
Slide 24: Non-GAAP Reconciliations
+ Investor Presentation | 3Q25 Non-GAAP Reconciliations RECONCILIATION OF REPORTED OPERATING MARGIN TO ADJUSTED OPERATING MARGIN (Unaudited) (In millions) GAAP Basis Adjustments (1) Divestiture (2) As Adjusted Operating Profit - Fiscal 2024 $97.5 $19.1 $10.8 $127.4 Operating margin 5.6% 7.3% 1. 2024
Slide 25: Non-GAAP Reconciliations
+ Investor Presentation | 3Q25 Non-GAAP Reconciliations RECONCILIATION OF REPORTED DILUTED EPS TO ADJUSTED DILUTED EPS ON A CONSTANT CURRENCY BASIS (Unaudited) Foreign As As Adjusted EPS GAAP Basis Adjustments (1) Divestiture (2) Exchange Adjusted On a Constant Impact Currency Basis EPS - Fiscal 202
Slide 26: Non-GAAP Reconciliations
+ Investor Presentation | 3Q25 Non-GAAP Reconciliations RECONCILIATION OF REPORTED DILUTED EPS TO ADJUSTED DILUTED EPS ON A CONSTANT CURRENCY BASIS* (Unaudited) GAAP Basis Adjustments (1) Divestiture (2) As Adjusted EPS - Fiscal 2024 $0.55 $0.21 $0.12 $0.88 EPS - Fiscal 2023 ($0.49) $0.57 $0.09 $0.1
Slide 27: Non-GAAP Reconciliations
+ Investor Presentation | 3Q25 Non-GAAP Reconciliations 2025 GUIDANCE RECONCILIATION TABLES RECONCILIATION OF REPORTED GUIDANCE TO ADJUSTED TO GUIDANCE, REPORTED DILUTED EPS GUIDANCE TO ADJUSTED DILUTED EPS GUIDANCE AND SUPPLEMENTAL INFORMATION* (Unaudited) (In millions, except earnings per share) O
Slide 28: Thank You.
Thank You. investor.relations@wwwinc.com