V.F. Corporation (VFC - Free Report) has posted strong fourth-quarter fiscal 2019 results, wherein the top and bottom lines surpassed estimates and improved year over year. With this, it delivered the seventh top and bottom-line beat in the last eight quarters.
Despite the robust fiscal fourth-quarter results, shares of the company dropped 5.8% during pre-market trading. Analysts attributed the decline in shares to the completion of the Kontoor Brands spin-off. Additionally, the company’s forecasts for fiscal 2020 were below analysts’ expectations. However, this Zacks Rank #2 (Buy) stock has improved 5.9% in the past three months, outperforming the industry’s 0.8% growth.
The company’s adjusted earnings per share of 60 cents improved 10% year over year, surpassing the Zacks Consensus Estimate of 58 cents. Earnings included contribution of 1 cent per share from acquisitions, net of divestitures and 4 cents per share of incremental investment. On a constant-dollar basis, adjusted earnings rose 4%.