We believe the company is well positioned to deliver accelerated future growth with a number of fundamental elements supporting our enthusiasm.
Adjusted earnings per share for the company were $0.62 in line with our expectation despite the shortfall in revenue driven by macro supply chain issues. The Wolverine Michigan Group's revenue was up 13% year-over-year and the Wolverine Boston Group's revenue was up over 33%. We estimate that factory closures and logistics delays impacted Q3 by at least $60 million. Earnings leverage driven by gross margin increases was very good. Third quarter revenue was approximately $637 million. These important risk factors are identified in the company's SEC filings and in our press releases.Įarlier today, we reported over 29% revenue growth versus 2020 and 11% over 2019. As a result, we must caution you that there are a number of factors that could cause actual results to differ materially from those described in the forward-looking statements. I'd also like to remind you that statements describing the company's expectations, plans, predictions and projections such as those regarding the company's outlook for fiscal year 20, growth opportunities and trends expected to affect the company's future performance made during today's conference call are forward-looking statements under U.S. These disclosures were reconciled in attached tables within the body of the release. References to underlying performance reflect the exclusion of the recently acquired Sweaty Betty brand. This morning's press release and comments made during today's earnings call include non-GAAP disclosures, which adjust, for example, for the impacts of environmental and other related costs, net of cost recoveries, costs related to the COVID-19 pandemic, including airfreight costs, severance expenses and other related costs and foreign exchange rate changes. If you would prefer to have a copy of the release sent to you directly, please call Allison Malkin at 20.
The press release is available on many news sites and can be viewed on our corporate website at.
On the call today are Blake Krueger, our Chairman and Chief Executive Officer Brendan Hoffman, our President and Mike Stornant, our Senior Vice President and Chief Financial Officer.Įarlier this morning, we announced our financial results for the third quarter 2021.
Not the ‘trendiest’ feature but one that could actually save your life one day and as someone who runs at all kinds of times of day, I’m all about that level of practicality.Good morning, and welcome to our third quarter 2021 conference call. As the name suggests, it just looks race ready.Īnother small feature worth noting is the reflective heel panel on both shoes that will light up when car headlights shine on it. Personally, I love the look of this shoe, the colour, the wavy shape of the brand logo seems to be echoed and complimented throughout the rest of the shoe from the midsole to the upper. Immediately I noticed the bright blue colours streaking across the shoe, fairly ‘classic’ for a men’s colour way but the way it’s applied to the shoe is makes it feel racy, streamlined and got me feeling the need for a quick run to test them out. The hype behind this shoe from fellow runners and reviewers has been really positive and I couldn’t wait to get them on foot and try them out. Opening any shoe box for the first time is always a moment to treasure however, reaching in and grabbing out a pair of Saucony Endorphin Speed 2’s felt extra special.
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