Wolverine World Wide, Inc. (NYSE:WWW) Q3 2022 Earnings Conference Call November 9, 2022 8:30 AM ET
Company Participants
Alex Wiseman - Vice President-Finance
Brendan Hoffman - President and Chief Executive Officer
Mike Stornant - Executive Vice President and Chief Financial Officer
Conference Call Participants
Jim Duffy - Stifel
Abbie Zvejnieks - Piper Sandler
Jonathan Komp - Baird
Mitch Kummetz - Seaport Global
Jay Sole - UBS
Sam Poser - William’s Trading
Operator
Greetings and welcome to the Wolverine World Wide Third Quarter 2022 Earnings Call. At this time all participants are in a listen-only mode. A question and answer session will follow the formal presentation. [Operator Instructions]
As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Alex Wiseman, Vice President of Finance for Wolverine World Wide. Thank you. You may begin.
Alex Wiseman
Good morning, and welcome to our third quarter 2022 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 third quarter 2022. We also issued a separate press release and filed an 8-K outlining changes to our brand groups and reportable segments which took effect in the fourth quarter. References to financial performance in today’s call reflect the pre-existing stock share. These two press releases are available on many news sites and can be viewed on our corporate website at wolverineworldwide.com. If you would prefer to have a copy of the release sent to you directly, please call Allison Malkin at (203)- 682-8225.
This morning’s earnings press release and comments made during today’s earnings call include non-GAAP disclosures, which adjusts, for example, for the impacts of environmental and other related costs net of cost recoveries, foreign exchange rate changes and cost associated with the integration of Sweaty Betty. Prior year non-GAAP disclosures include additional adjustments for debt extinguishment cost and costs associated with the acquisition of the Sweaty Betty brand. These disclosures were reconciled in the attached tables within the body of the release. We have added a supplemental table on our website under the Investor Relations tab at the Webcast and Presentations link to show financial results with and without adjustments for abnormal airfreight levels in 2021 to facilitate year-over-year performance comparisons.
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 2022, 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.