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V.F. Corporation (VFC) Beats on Earnings & Sales Estimates
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V.F. Corporation (VFC - Free Report) posted results for the transition period ended Mar 31, 2018, wherein adjusted earnings of 67 cents per share surpassed the Zacks Consensus Estimate of 65 cents. Moreover, the bottom line rose 30% year over year, including a 3 cents contribution from the Williamson-Dickie acquisition. On a currency-neutral basis, earnings per share improved 22%.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has been stable in the last 30 days. In the trailing four quarters, excluding quarter under review, the company has outpaced the Zacks Consensus Estimate by an average of 3.1%.
V.F. Corporation Price, Consensus and EPS Surprise
Revenues: V.F. Corp. generated total revenues, including royalty income, of $3,045.4 million that increased about 22% year over year and beat the Zacks Consensus Estimate of $2,902 million. Net sales of $3,022.9 million also advanced 22% from the prior-year quarter, including contributions from the Williamson-Dickie acquisition. On a currency neutral basis, revenues jumped 17%. Excluding the Williamson-Dickie acquisition, revenues were up 12%, while currency-neutral revenue grew 8%.
Key Events: On Apr 30, the company completed the sale of the Nautica brand business to Authentic Brands Group (ABG), LLC. Earlier, the company completed the sale of its Licensed Sports Group business that consists of the Majestic brand, to Fanatics, Inc. on Apr 28, 2017. In conjunction with the LSG divestiture, V.F. Corp. also exited the licensing business and completed the sale of assets of the JanSport brand collegiate business in fourth-quarter 2017. Hence, results from these businesses are recorded under discontinued operations.
Further, the company declared a quarterly dividend of 46 cents per share, payable on Jun 18, 2018, to shareholders with record as on Jun 8.
Outlook: For fiscal 2019, the company expects revenue of $13.45-$13.55 billion, an increase of 9-10%. It envisions adjusted earnings per share to be in the range of $3.48-$3.53, marking 11-13% growth year over year.
Check back later for our full write up on V.F. Corp.’s earnings report!
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V.F. Corporation (VFC) Beats on Earnings & Sales Estimates
V.F. Corporation (VFC - Free Report) posted results for the transition period ended Mar 31, 2018, wherein adjusted earnings of 67 cents per share surpassed the Zacks Consensus Estimate of 65 cents. Moreover, the bottom line rose 30% year over year, including a 3 cents contribution from the Williamson-Dickie acquisition. On a currency-neutral basis, earnings per share improved 22%.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has been stable in the last 30 days. In the trailing four quarters, excluding quarter under review, the company has outpaced the Zacks Consensus Estimate by an average of 3.1%.
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 total revenues, including royalty income, of $3,045.4 million that increased about 22% year over year and beat the Zacks Consensus Estimate of $2,902 million. Net sales of $3,022.9 million also advanced 22% from the prior-year quarter, including contributions from the Williamson-Dickie acquisition. On a currency neutral basis, revenues jumped 17%. Excluding the Williamson-Dickie acquisition, revenues were up 12%, while currency-neutral revenue grew 8%.
Key Events: On Apr 30, the company completed the sale of the Nautica brand business to Authentic Brands Group (ABG), LLC. Earlier, the company completed the sale of its Licensed Sports Group business that consists of the Majestic brand, to Fanatics, Inc. on Apr 28, 2017. In conjunction with the LSG divestiture, V.F. Corp. also exited the licensing business and completed the sale of assets of the JanSport brand collegiate business in fourth-quarter 2017. Hence, results from these businesses are recorded under discontinued operations.
Further, the company declared a quarterly dividend of 46 cents per share, payable on Jun 18, 2018, to shareholders with record as on Jun 8.
Outlook: For fiscal 2019, the company expects revenue of $13.45-$13.55 billion, an increase of 9-10%. It envisions adjusted earnings per share to be in the range of $3.48-$3.53, marking 11-13% growth year over year.
Zacks Rank: Currently, V.F. Corp. carries a Zacks Rank #3 (Hold), 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!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>