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V.F. Corp (VFC) to Report Q3 Earnings: Factors to Consider
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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 third-quarter fiscal 2024 earnings on Feb 6, after the closing bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.3 billion, indicating a 7.1% decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for fiscal third-quarter earnings is pegged at 83 cents per share, suggesting a 25.9% decline from the year-ago quarter’s reported number. The metric has moved up 3.75% in the past seven days.
V.F. Corp has a trailing four-quarter earnings surprise of 6.4%, on average. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 3.1%.
V.F. Corp has been reeling under a tough operating environment and dismal wholesale performance, along with sluggishness in the Americas and the Vans brand.
The company’s wholesale business, mainly in the United States, has been witnessing challenges as its major partners have been taking a more cautious approach to forward orders. Also, elevated promotional activity and higher product costs are likely to have dented the bottom-line performance in the quarter under review.
On the last reported quarter’s earnings call, the company did not expect any improvement in Vans' performance in the second half of fiscal 2024. It anticipated a tougher US wholesale environment throughout fiscal 2024. The impacts of the dismal Vans performance are expected to get reflected in the fiscal third quarter.
However, the company has introduced a transformation program, Reinvent, to enhance focus on brand-building and improving the operating performance. The new plan focuses on four objectives, including improving the North America performance, Vans’ turnaround, reducing costs and strengthening the balance sheet. The execution of the plan is expected to have cushioned the company’s margins to some extent in the to-be-reported quarter.
V.F. Corp is expected to have gained in the to-be-reported quarter from the momentum in the APAC region, particularly driven by gains in the China business mainly The North Face brand. The North Face has been a key growth driver in this region, with revenue growth of more than 50% in Greater China in the fiscal second quarter, on the back of outdoor market tailwinds and recovering domestic travel. This has made North Face the number-one international outdoor brand in China. Momentum in this business is expected to have aided the top line in the fiscal third quarter.
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 #3 and an Earnings ESP of -25.10%.
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:
Skechers (SKX - Free Report) currently has an Earnings ESP of +15.70% and a Zacks Rank #2. SKX is likely to register top and bottom-line growth when it reports fourth-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $2.01 billion, suggesting 7.2% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Skechers’ fourth-quarter earnings is pegged at 52 cents, suggesting 8.3% growth from the 48 cents reported in the year-ago quarter. The consensus mark has moved up by 4% in the past 30 days.
Deckers Outdoor (DECK - Free Report) currently has an Earnings ESP of +1.39% and a Zacks Rank #2. DECK is likely to register top and bottom-line growth when it reports third-quarter fiscal 2024. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.4 billion, suggesting 6.7% growth from the prior-year reported figure.
The Zacks Consensus Estimate for Deckers Outdoor’s fiscal third-quarter earnings is pegged at $11.36, suggesting year-over-year growth of 8.4%. The consensus mark has moved up 2.8% in the past seven days.
Ralph Lauren (RL - Free Report) currently has an Earnings ESP of +2.38% and a Zacks Rank #3. The company is likely to register top and bottom-line growth when it reports third-quarter fiscal 2024. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.9 billion, suggesting 1.6% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Ralph Lauren’s fiscal third-quarter earnings is pegged at $3.48, suggesting 3.9% 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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V.F. Corp (VFC) to Report Q3 Earnings: Factors to Consider
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 third-quarter fiscal 2024 earnings on Feb 6, after the closing bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.3 billion, indicating a 7.1% decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for fiscal third-quarter earnings is pegged at 83 cents per share, suggesting a 25.9% decline from the year-ago quarter’s reported number. The metric has moved up 3.75% in the past seven days.
V.F. Corp has a trailing four-quarter earnings surprise of 6.4%, on average. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 3.1%.
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, along with sluggishness in the Americas and the Vans brand.
The company’s wholesale business, mainly in the United States, has been witnessing challenges as its major partners have been taking a more cautious approach to forward orders. Also, elevated promotional activity and higher product costs are likely to have dented the bottom-line performance in the quarter under review.
On the last reported quarter’s earnings call, the company did not expect any improvement in Vans' performance in the second half of fiscal 2024. It anticipated a tougher US wholesale environment throughout fiscal 2024. The impacts of the dismal Vans performance are expected to get reflected in the fiscal third quarter.
However, the company has introduced a transformation program, Reinvent, to enhance focus on brand-building and improving the operating performance. The new plan focuses on four objectives, including improving the North America performance, Vans’ turnaround, reducing costs and strengthening the balance sheet. The execution of the plan is expected to have cushioned the company’s margins to some extent in the to-be-reported quarter.
V.F. Corp is expected to have gained in the to-be-reported quarter from the momentum in the APAC region, particularly driven by gains in the China business mainly The North Face brand. The North Face has been a key growth driver in this region, with revenue growth of more than 50% in Greater China in the fiscal second quarter, on the back of outdoor market tailwinds and recovering domestic travel. This has made North Face the number-one international outdoor brand in China. Momentum in this business is expected to have aided the top line in the fiscal third quarter.
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 #3 and an Earnings ESP of -25.10%.
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:
Skechers (SKX - Free Report) currently has an Earnings ESP of +15.70% and a Zacks Rank #2. SKX is likely to register top and bottom-line growth when it reports fourth-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $2.01 billion, suggesting 7.2% 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 Skechers’ fourth-quarter earnings is pegged at 52 cents, suggesting 8.3% growth from the 48 cents reported in the year-ago quarter. The consensus mark has moved up by 4% in the past 30 days.
Deckers Outdoor (DECK - Free Report) currently has an Earnings ESP of +1.39% and a Zacks Rank #2. DECK is likely to register top and bottom-line growth when it reports third-quarter fiscal 2024. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.4 billion, suggesting 6.7% growth from the prior-year reported figure.
The Zacks Consensus Estimate for Deckers Outdoor’s fiscal third-quarter earnings is pegged at $11.36, suggesting year-over-year growth of 8.4%. The consensus mark has moved up 2.8% in the past seven days.
Ralph Lauren (RL - Free Report) currently has an Earnings ESP of +2.38% and a Zacks Rank #3. The company is likely to register top and bottom-line growth when it reports third-quarter fiscal 2024. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.9 billion, suggesting 1.6% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Ralph Lauren’s fiscal third-quarter earnings is pegged at $3.48, suggesting 3.9% 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.