Shares for Wolverine Worldwide climbed over 5 percent in pre-market trading on Thursday as the company finished 2025 on a high note.
The Rockford, Mich.-based footwear company said total revenue in the fourth quarter of 2025 was $517.5 million, up 4.6 percent from $494.7 million the same time last year.
Net earnings in the quarter were $32.5 million, up from $23.8 million the same time last year. Diluted earnings per share in Q4 were 38 cents, up from 28 cents the prior year’s period. On an adjusted basis, diluted earnings per share in Q4 was 45 cents.
These results beat analysts’ expectations, which called for net sales in Q4 between $503 million to $518.2 million, according to Yahoo Finance.
By brand, Merrell and Saucony continued to lead the way in Q4 in terms of growth. At Merrell, net sales in the period were $173.1 million, a 5.9 percent increase from $163.4 million the prior year. At Saucony, net sales were $125.9 million, a 26.4 percent increase from $99.6 million just a year ago.
At the company’s namesake Wolverine brand, net sales declined 10.5 percent to $55.8 million in the fourth quarter from $62.4 million the same time last year. And at Sweaty Betty, net sales increased 8.8 percent in Q4 to $68.9million from $63.4 million.
The company’s international revenue in Q4 was up 9.8 percent to $277.4 million compared to the prior year, while its direct-to-consumer revenue was up 5.9 percent to $160.7 million. Net debt at the end of the quarter was $415 million, down $81 million, or approximately 16.2 percent, compared to the prior year.
Chris Hufnagel, president and chief executive officer of Wolverine Worldwide, said in a statement that the company’s fourth quarter results “exceeded expectations” across all key metrics.
“Our biggest brands are growing around the world, direct-to-consumer continues to improve, earnings per share increased meaningfully year-over-year, and I believe we’re finding our footing where we’ve underperformed,” Hufnagel noted.
As for the full fiscal year 2025, the company said total revenue was $1.87 billion, up 6.8 percent from $1.76 billion in fiscal 2024. Ongoing total revenue for the year – which excludes the results of the Sperry business, which was sold in January 2024 – was also $1.87 billion, an increase of 7.1 percent from $1.75 billion the prior year.
Net earnings for the year were $101 million, up from $48.8 million in fiscal 2024. Diluted earnings per share for fiscal 2025 were $1.14, up from 55 cents the prior year. On an adjusted basis, diluted earnings per share for the year was $1.35 cents.
By brand, net sales at Merrell grew 8.4 percent in fiscal 2025 to $648.9 million, up from $598.4 million in fiscal 2024. At Saucony, net sales jumped 31.1 percent in 2025 to $533.1 million, up from $406.5 million.
For the Wolverine brand, net sales declined 9 percent to $175.7 million in the year, down from $193.1 million. At Sweaty Betty, net sales were $192.8 million, a 3.1 percent decline from $198.9 million in fiscal 2024.
Looking ahead, the company expects revenue for the full fiscal year 2026 to be between $1.960 billion and $1.985 billion, representing growth of approximately 4.6 percent to 5.9 percent compared to 2025. Diluted earnings per share for fiscal 2026 is expected to be in the range of $1.31 to $1.46.
“I’m pleased with our progress in transforming the company and encouraged by the momentum we’ve carried into 2026,” Hufnagel added. “We’re focused squarely on executing our brand-building model with pace and distinction—building awesome products, telling amazing stories, and driving the business each day.”
