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V.F. Corp. (VFC) to Report Q1 Earnings: What's in Store?
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V.F. Corporation (VFC - Free Report) is likely to register top and bottom-line decreases from the year-ago quarter’s reported figures when it posts first-quarter fiscal 2024 earnings on Aug 1, after the closing bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $2.06 billion, indicating an 8.9% decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for the bottom line in the fiscal first quarter is pegged at a loss of 13 cents per share, suggesting a 244.4% decline from the year-ago quarter’s reported number. The metric has remained stable in the past 30 days.
V.F. Corp. has a trailing four-quarter earnings surprise of 3%, on average. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 30.8%.
On its last earnings call, V.F. Corp. provided a tepid outlook for the first quarter of fiscal 2024, implying soft performance in the to-be-reported quarter. The company expected the fiscal first quarter to reflect the impacts of sluggishness in the Americas region on account of a tough wholesale environment. It anticipates revenues from its brands to be impacted by lower wholesale sales in the spring season. For first-quarter fiscal 2024, the company predicts a revenue decline in the high-single digits, indicating a challenging U.S. wholesale environment.
VFC also expects SG&A deleverage for the fiscal first quarter due to lower volumes. This, along with the promotional environment in North America, is likely to weigh on the bottom-line performance for the to-be-reported quarter.
On the positive front, the company has been benefiting from Supreme’s strong follower base in the younger generation, even when consumers are moving away from apparel to essential spending. VFC’s brand portfolio, strength in its outdoor unit driven by The North Face brand and solid momentum in the international business are likely to have boosted its performance in the fiscal first quarter.
V.F. Corp. also remains committed on its operational execution and cost-saving actions, which are expected to have boosted its margins in the to-be-reported quarter. Also, the company’s focus on lowering working capital and optimizing inventories is likely to have been tailwinds. For the fiscal first quarter, our model indicates gross margin to expand 120 basis points to 55.3% on a year-over-year basis.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for V.F. Corp. this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
V.F. Corp. has a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%.
Stocks Poised to Beat Earnings Estimates
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this season:
Camping World Holdings, Inc. (CWH - Free Report) has an Earnings ESP of +3.19% and currently sports a Zacks Rank #1. CWH is likely to register top and bottom-line decline from the prior-year quarter’s reading when it reports upcoming quarterly results. The Zacks Consensus Estimate for quarterly revenues is pegged at $2 billion, suggesting an 8.9% decline from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CWH's quarterly earnings is pegged at 81 cents, suggesting a 62.5% decline from $2.16 reported in the year-ago quarter. The consensus mark has been stable in the past 30 days. Camping World delivered an earnings beat of 600% in the last reported quarter.
Carter's, Inc. (CRI - Free Report) currently has an Earnings ESP of +7.84% and a Zacks Rank of 2. CRI is expected to register top and bottom-line decline from the year-ago quarter’s reported figures when it reports upcoming quarterly numbers. The Zacks Consensus Estimate for CRI’s quarterly revenues is pegged at $600.4 million, suggesting a fall of 14.3% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for CRI’s quarterly earnings has moved up 4.1% in the past 30 days to 51 cents per share. The consensus estimate for earnings suggests 60.8% decline from the year-ago quarter’s reported number. Carter's delivered an earnings beat of 25.3%, on average, in the trailing four quarters.
Central Garden & Pet Company (CENTA - Free Report) currently has an Earnings ESP of +0.52% and a Zacks Rank of 2. CENTA is expected to register a top-line and bottom-line improvement when it reports upcoming quarterly results.
The Zacks Consensus Estimate for Central Garden’s quarterly revenues is pegged at $1 billion, indicating growth of 1% from the prior-year quarter’s reported figure. The consensus estimate for the quarterly earnings per share of $1.45 suggests growth of 4.3% from the figure reported in the year-ago quarter. CENTA’s earnings came in line with the Zacks Consensus Estimate in the last reported quarter.
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V.F. Corp. (VFC) to Report Q1 Earnings: What's in Store?
V.F. Corporation (VFC - Free Report) is likely to register top and bottom-line decreases from the year-ago quarter’s reported figures when it posts first-quarter fiscal 2024 earnings on Aug 1, after the closing bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $2.06 billion, indicating an 8.9% decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for the bottom line in the fiscal first quarter is pegged at a loss of 13 cents per share, suggesting a 244.4% decline from the year-ago quarter’s reported number. The metric has remained stable in the past 30 days.
V.F. Corp. has a trailing four-quarter earnings surprise of 3%, on average. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 30.8%.
V.F. Corporation Price and EPS Surprise
V.F. Corporation price-eps-surprise | V.F. Corporation Quote
Key Factors to Note
On its last earnings call, V.F. Corp. provided a tepid outlook for the first quarter of fiscal 2024, implying soft performance in the to-be-reported quarter. The company expected the fiscal first quarter to reflect the impacts of sluggishness in the Americas region on account of a tough wholesale environment. It anticipates revenues from its brands to be impacted by lower wholesale sales in the spring season. For first-quarter fiscal 2024, the company predicts a revenue decline in the high-single digits, indicating a challenging U.S. wholesale environment.
VFC also expects SG&A deleverage for the fiscal first quarter due to lower volumes. This, along with the promotional environment in North America, is likely to weigh on the bottom-line performance for the to-be-reported quarter.
On the positive front, the company has been benefiting from Supreme’s strong follower base in the younger generation, even when consumers are moving away from apparel to essential spending. VFC’s brand portfolio, strength in its outdoor unit driven by The North Face brand and solid momentum in the international business are likely to have boosted its performance in the fiscal first quarter.
V.F. Corp. also remains committed on its operational execution and cost-saving actions, which are expected to have boosted its margins in the to-be-reported quarter. Also, the company’s focus on lowering working capital and optimizing inventories is likely to have been tailwinds. For the fiscal first quarter, our model indicates gross margin to expand 120 basis points to 55.3% on a year-over-year basis.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for V.F. Corp. this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
V.F. Corp. has a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%.
Stocks Poised to Beat Earnings Estimates
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this season:
Camping World Holdings, Inc. (CWH - Free Report) has an Earnings ESP of +3.19% and currently sports a Zacks Rank #1. CWH is likely to register top and bottom-line decline from the prior-year quarter’s reading when it reports upcoming quarterly results. The Zacks Consensus Estimate for quarterly revenues is pegged at $2 billion, suggesting an 8.9% decline from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CWH's quarterly earnings is pegged at 81 cents, suggesting a 62.5% decline from $2.16 reported in the year-ago quarter. The consensus mark has been stable in the past 30 days. Camping World delivered an earnings beat of 600% in the last reported quarter.
Carter's, Inc. (CRI - Free Report) currently has an Earnings ESP of +7.84% and a Zacks Rank of 2. CRI is expected to register top and bottom-line decline from the year-ago quarter’s reported figures when it reports upcoming quarterly numbers. The Zacks Consensus Estimate for CRI’s quarterly revenues is pegged at $600.4 million, suggesting a fall of 14.3% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for CRI’s quarterly earnings has moved up 4.1% in the past 30 days to 51 cents per share. The consensus estimate for earnings suggests 60.8% decline from the year-ago quarter’s reported number. Carter's delivered an earnings beat of 25.3%, on average, in the trailing four quarters.
Central Garden & Pet Company (CENTA - Free Report) currently has an Earnings ESP of +0.52% and a Zacks Rank of 2. CENTA is expected to register a top-line and bottom-line improvement when it reports upcoming quarterly results.
The Zacks Consensus Estimate for Central Garden’s quarterly revenues is pegged at $1 billion, indicating growth of 1% from the prior-year quarter’s reported figure. The consensus estimate for the quarterly earnings per share of $1.45 suggests growth of 4.3% from the figure reported in the year-ago quarter. CENTA’s earnings came in line with the Zacks Consensus Estimate in the last reported quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.