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V.F. Corp. (VFC) Reports In-line Q4 Earnings, Sales Lag
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V.F. Corporation (VFC - Free Report) posted fourth-quarter 2016 results, wherein adjusted earnings of 97 cents per share increased 3% from year-ago earnings and came in line the Zacks Consensus Estimate. Moreover, the bottom line rose 8% on a currency-neutral basis.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has witnessed downward revision over the past 30 days. Further, in the trailing four quarters, excluding quarter under review, the company underperformed the Zacks Consensus Estimate marginally, by an average of 0.4%.
V.F. Corporation Price, Consensus and EPS Surprise
Revenues: V.F. Corp. generated net sales of $3,290.9 million that slipped 0.1% year over year and also fell short of the Zacks Consensus Estimate of $3,463 million. Total revenue, including royalty income came in at $3,320.6 million, down 0.2% year over year. On a currency neutral basis, revenue rose 1%.
Key Events: On Aug 26, 2016, V.F. Corp. concluded the sale of its Contemporary Brands businesses, which included the 7 For All Mankind, Splendid and Ella Moss brands, to Delta Galil Industries Ltd. Thereafter, the company recorded all results from that business under discontinued operations, alongside removing all assets and liabilities associated with the coalition.
In 2016, the company returned above $1.6 billion to stockholders through share buyback and dividends. Also, management declared a quarterly dividend of 42 cents per share, which is payable on Mar 20, 2016 to shareholders of record as on Mar 10.
Outlook: In 2017, the company expects revenues to increase at a low single-digit percentage which includes a two percentage point negative impact due to foreign currency headwinds. The company envisions earnings per share for 2017 to decline at a low single-digit percentage rate in comparison to 2016 adjusted earnings per share of $3.11 per share.
Check back later for our full write up on V.F. Corp.’s earnings report!
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V.F. Corp. (VFC) Reports In-line Q4 Earnings, Sales Lag
V.F. Corporation (VFC - Free Report) posted fourth-quarter 2016 results, wherein adjusted earnings of 97 cents per share increased 3% from year-ago earnings and came in line the Zacks Consensus Estimate. Moreover, the bottom line rose 8% on a currency-neutral basis.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has witnessed downward revision over the past 30 days. Further, in the trailing four quarters, excluding quarter under review, the company underperformed the Zacks Consensus Estimate marginally, by an average of 0.4%.
V.F. Corporation Price, Consensus and EPS Surprise
V.F. Corporation Price, Consensus and EPS Surprise | V.F. Corporation Quote
Revenues: V.F. Corp. generated net sales of $3,290.9 million that slipped 0.1% year over year and also fell short of the Zacks Consensus Estimate of $3,463 million. Total revenue, including royalty income came in at $3,320.6 million, down 0.2% year over year. On a currency neutral basis, revenue rose 1%.
Key Events: On Aug 26, 2016, V.F. Corp. concluded the sale of its Contemporary Brands businesses, which included the 7 For All Mankind, Splendid and Ella Moss brands, to Delta Galil Industries Ltd. Thereafter, the company recorded all results from that business under discontinued operations, alongside removing all assets and liabilities associated with the coalition.
In 2016, the company returned above $1.6 billion to stockholders through share buyback and dividends. Also, management declared a quarterly dividend of 42 cents per share, which is payable on Mar 20, 2016 to shareholders of record as on Mar 10.
Outlook: In 2017, the company expects revenues to increase at a low single-digit percentage which includes a two percentage point negative impact due to foreign currency headwinds. The company envisions earnings per share for 2017 to decline at a low single-digit percentage rate in comparison to 2016 adjusted earnings per share of $3.11 per share.
Zacks Rank: Currently, V.F. Corp. carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on V.F. Corp.’s earnings report!
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>