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V.F. Corp Earnings: VFC Stock Slides 7% on Q2 Miss

V.F. Corp (NYSE:VFC) earnings for the apparel and footwear company’s fiscal second quarter of 2020 have VFC stock losing traction on Friday. That’s due in part to its adjusted EPS of $1.26. This misses Wall Street’s estimate o $1.31 for the quarter. Revenue of $3.39 billion is also a blow to VFC stock by coming in below analysts’ estimates of $3.42 billion.

V.F. Corp Earnings: VFC Stock Slides 7% on Q2 Miss

Source: rblfmr / Shutterstock.com

Now for a more in-depth look at what went on in the most recent V.F. Corp earnings report.

  • Adjusted per-share earnings were down 8.39% YoY from $1.43.
  • The company’s revenue saw a 5.28% increase over the $3.22 billion reported during the same time last year.
  • Operating income of $579.07 million is up 6.07% from $544.99 million in Q3 2018.
  • The V.F. Corp earnings report also includes a net income of $649.00 million.
  • This is 27.98% higher than its net income of $507.12 million from the same period of the year prior.

Steve Rendle, Chairman, President and CEO of V.F. Corp, says this about the Q3 VFC stock earnings.

“Despite an increasingly uncertain geopolitical and macroeconomic environment, we are confident in the trajectory of our business as we move into the second half of our fiscal year, as reaffirmed by our outlook.”

That reaffirmed outlook has V.F. Corp expecting adjusted earnings per share of $3.32 to $3.37 on revenue of approximately $11.80 billion. For comparison, Wall Street is looking for adjusted EPS and revenue of $3.39 and $11.87 billion in fiscal 2020.

VFC stock was down 7.40% when markets closed on Friday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/10/v-f-corp-earnings-drop-vfc-stock/.

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