Fourth Quarter Revenue Climbs 4.6% to $517.5M, EPS Jumps 36%
Wolverine Worldwide’s Q4 revenue rose 4.6% to $517.5 million, with EPS up 35.7% to $0.38 and adjusted EPS up 12.5% to $0.45. Full-year 2025 revenue grew 6.8% to $1.874 billion while annual diluted EPS more than doubled to $1.14.
1. Fourth Quarter Performance
The company posted Q4 revenue of $517.5 million, a 4.6% year-over-year increase, while diluted earnings per share rose 35.7% to $0.38. Adjusted EPS climbed 12.5% to $0.45, reflecting improved profitability on ongoing operations.
2. Brand Segment Trends
Saucony led the quarter with sales of $125.9 million, up 26.4%, and Merrell revenue increased 5.9% to $173.1 million. Work Group sales declined 11.3% to $134.0 million, indicating softer demand in that category.
3. Margin Expansion and Operating Efficiency
Gross margin expanded by 340 basis points to 47.0%, driven by product cost savings, a shift toward full-price sales, and recent price hikes. Operating margin improved 180 basis points to 9.4% amid controlled expense growth.
4. Full Year 2025 Results
Fiscal 2025 revenue reached $1.874 billion, up 6.8%, while full-year diluted EPS more than doubled 107.3% to $1.14. Saucony full-year sales surged 31.1% to $533.1 million, Merrell rose 8.4% to $648.9 million, and direct-to-consumer dipped 1.7% to $475.5 million.