Wolverine World Wide, Inc. (NYSE:WWW) Q1 2023 Earnings Conference Call May 10, 2023 8:30 AM ET
Company Participants
Alex Wiseman - VP, Finance
Brendan Hoffman - President and CEO
Mike Stornant - EVP and CFO
Conference Call Participants
Abbie Zvejnieks - Piper Sandler
Mitch Kummetz - Seaport Research
Dana Telsey - Telsey Group
Sam Poser - Williams Trading.
Jim Duffy - Stifel
Operator
Greetings, and welcome to the Wolverine Worldwide Inc. First Quarter 2023 Earnings Call. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. It is now my pleasure to introduce your host, Alex Wiseman, Vice President of Finance. Thank you. Please go ahead, sir.
Alex Wiseman
Good morning, and welcome to our first quarter 2023 conference call. On the call today are Brendan Hoffman, our President and Chief Executive Officer; and Mike Stornant, our Executive Vice President and Chief Financial Officer. Earlier this morning, we issued our earnings press release and announced our financial results for the first quarter 2023. The press release is available on many news sites and can be viewed on our corporate website at wolverineworldwide.com. This morning's earnings press release and comments made during today's earnings call include non-GAAP disclosures, which adjust for certain items such as environmental and other related costs, net of cost recoveries, reorganization costs, foreign exchange rate changes and a gain on the divestiture of the Keds [ph] business.
Financial results and guidance for 2023 and comparable results for 2022 where our ongoing business exclude the impact of CDs, which was sold in February 2023, and Wolverine Leathers which is subject of a sale process and reflect an adjustment for the transition of our Hushpuppy North America business to a licensing model in the second half of 2023. These disclosures were reconciled in attached tables within the body of the release.
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 2023, 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. securities laws.
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. These important risk factors are identified in the company's SEC filings and in our press releases. With that being said, I'd now like to turn the call over to Brendan Hofton.