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Factors Likely to Affect V.F. Corp (VFC) This Earnings Season
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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 second-quarter fiscal 2024 earnings on Oct 30, after the closing bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $3 billion, indicating a 2.4% decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for fiscal second-quarter earnings is pegged at 66 cents per share, suggesting a 9.6% decline from the year-ago quarter’s reported number. The metric has moved down by a penny in the past seven days.
We expect revenues to be down 2.3% from the year-ago quarter’s actual to $3 billion and adjusted earnings to decrease 19.4% to 59 cents per share.
V.F. Corp has a trailing four-quarter earnings surprise of 6.8%, on average. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 15.4%.
V.F. Corp has been reeling under a tough operating environment and dismal wholesale performance. The company’s wholesale business, mainly in the United States, has been challenging as its major partners have been taking a more cautious approach on forward orders. Also, elevated promotional activity and higher product costs are likely to have dented the bottom-line performance in the quarter under review.
However, 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. The North Face and China businesses have been experiencing momentum. The company has also been seeing improved supply-chain performance, allowing it to capitalize on revenue opportunities.
V.F. Corp has been committed to its operational execution and cost-saving actions. Also, the company’s focus on lowering working capital and optimizing inventories is likely to have been a tailwind.
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 #5 (Strong Sell) and an Earnings ESP of -0.36%.
Stocks Poised to Beat Earnings Estimates
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Caesars Entertainment (CZR - Free Report) currently has an Earnings ESP of +37.22% and a Zacks Rank #2. CZR is likely to register top and bottom-line growth when it reports third-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $2.92 billion, suggesting 1% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Caesars Entertainment’s third-quarter earnings is pegged at 26 cents, suggesting 8.3% growth from the 24 cents reported in the year-ago quarter. The consensus mark has moved up by 2 cents in the past 30 days.
Marriott International (MAR - Free Report) currently has an Earnings ESP of +1.59% and a Zacks Rank #3. MAR is likely to register top and bottom-line growth when it reports third-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $5.91 billion, suggesting 11.2% growth from the prior-year reported figure.
The Zacks Consensus Estimate for Marriott’s third-quarter earnings is pegged at $2.09, suggesting year-over-year growth of 23.8%. The consensus mark has moved up by a penny in the past 30 days.
Cinemark Holdings (CNK - Free Report) currently has an Earnings ESP of +70.56% and a Zacks Rank #3. The company is likely to register top and bottom-line growth when it reports third-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $798.6 million, suggesting 22.8% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Cinemark Holdings’ third-quarter earnings is pegged at 33 cents, suggesting 265% growth from that reported in the year-ago quarter. The consensus mark has moved up by a penny in the past 30 days.
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Factors Likely to Affect V.F. Corp (VFC) This Earnings Season
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 second-quarter fiscal 2024 earnings on Oct 30, after the closing bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $3 billion, indicating a 2.4% decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for fiscal second-quarter earnings is pegged at 66 cents per share, suggesting a 9.6% decline from the year-ago quarter’s reported number. The metric has moved down by a penny in the past seven days.
We expect revenues to be down 2.3% from the year-ago quarter’s actual to $3 billion and adjusted earnings to decrease 19.4% to 59 cents per share.
V.F. Corp has a trailing four-quarter earnings surprise of 6.8%, on average. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 15.4%.
V.F. Corporation Price and EPS Surprise
V.F. Corporation price-eps-surprise | V.F. Corporation Quote
Key Factors to Note
V.F. Corp has been reeling under a tough operating environment and dismal wholesale performance. The company’s wholesale business, mainly in the United States, has been challenging as its major partners have been taking a more cautious approach on forward orders. Also, elevated promotional activity and higher product costs are likely to have dented the bottom-line performance in the quarter under review.
However, 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. The North Face and China businesses have been experiencing momentum. The company has also been seeing improved supply-chain performance, allowing it to capitalize on revenue opportunities.
V.F. Corp has been committed to its operational execution and cost-saving actions. Also, the company’s focus on lowering working capital and optimizing inventories is likely to have been a tailwind.
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 #5 (Strong Sell) and an Earnings ESP of -0.36%.
Stocks Poised to Beat Earnings Estimates
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Caesars Entertainment (CZR - Free Report) currently has an Earnings ESP of +37.22% and a Zacks Rank #2. CZR is likely to register top and bottom-line growth when it reports third-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $2.92 billion, suggesting 1% growth 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 Caesars Entertainment’s third-quarter earnings is pegged at 26 cents, suggesting 8.3% growth from the 24 cents reported in the year-ago quarter. The consensus mark has moved up by 2 cents in the past 30 days.
Marriott International (MAR - Free Report) currently has an Earnings ESP of +1.59% and a Zacks Rank #3. MAR is likely to register top and bottom-line growth when it reports third-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $5.91 billion, suggesting 11.2% growth from the prior-year reported figure.
The Zacks Consensus Estimate for Marriott’s third-quarter earnings is pegged at $2.09, suggesting year-over-year growth of 23.8%. The consensus mark has moved up by a penny in the past 30 days.
Cinemark Holdings (CNK - Free Report) currently has an Earnings ESP of +70.56% and a Zacks Rank #3. The company is likely to register top and bottom-line growth when it reports third-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $798.6 million, suggesting 22.8% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Cinemark Holdings’ third-quarter earnings is pegged at 33 cents, suggesting 265% growth from that reported in the year-ago quarter. The consensus mark has moved up by a penny in the past 30 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.