Wolverine Worldwide Inc. shares jumped in pre-market trading on Thursday after the footwear company reported a “solid start” to the fiscal year.
The shares initially traded nearly up 12 percent after first quarter earnings results were posted, but then began trading in the range of up 10.7 percent to $17.20.
The Rockford, Mich.-based footwear company said total revenue in the first quarter of 2026 was $457.6 million, up 11.0 percent from $412.3 million the same time last year.
Net earnings in the quarter were $22.4 million, up from $13.2 million a year ago. Diluted earnings per share in Q1 were 24 cents, up from 15 cents in the same year-ago quarter.
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These results beat analysts’ expectations, which called for net sales in Q1 at between $445.1 million to $454.16 million, according to Yahoo Finance. The company also beat its own expectations, which called for net sales to be in the range of $445 million to $450 million.
By brand, Merrell and Saucony continued to lead the way in Q1 in terms of growth. At Merrell, net sales in the period were $169.7 million, a 12.7 percent increase from $150.6 million last year. At Saucony, net sales were $155.9 million, a 20.1 percent increase from $129.8 million just a year ago.
At the company’s namesake Wolverine brand, net sales declined 2.5 percent to $36.4 million in the first quarter from $37.4 million a year ago. And at Sweaty Betty, net sales increased 1.5 percent in Q1 to $38.6 million from $38.0 million.
The company’s international revenue in Q1 jumped 20.1 percent to $249.6 million from year ago levels, while its direct-to-consumer revenue was up 3.0 percent to $99.3 million. Net debt at the end of the quarter was $519 million, down $85 million, or approximately 14.1 percent, compared to the prior year.
Chris Hufnagel, Wolverine Worldwide’s president and chief executive officer, said in a statement that the team delivered a solid start to 2026, with first quarter revenue, gross margin, and earnings per share all exceeding expectations.
“I believe we’re better brand builders today — led by Merrell and Saucony — with encouraging progress now evident across our broader portfolio,” Hufnagel noted. “We’re executing our strategies with pace, navigating a dynamic operating environment by leaning into what we do best — building awesome products, telling amazing stories, and driving the business forward each day.”
Looking ahead, the company continues to expect revenue for the full fiscal year 2026 to be between $1.96 billion and $1.99 billion, representing growth of approximately 4.6 percent to 5.9 percent from 2025 levels.
The company did, however, raise its yearly expectation on diluted earnings per share for fiscal 2026, which is now expected to be in the range of $1.39 to $1.54. This compares to the previous outlook for diluted earnings per share in the range of $1.31 to $1.46.
