V.F. Corp (VFC ) reported its fourth quarter results before the opening bell on Friday morning, posting higher revenues and adjusted earnings than last year’s Q4.
VFC's Earnings in Brief
- V.F. Corp. reported fourth quarter revenues of $3.58 billion, up from last year’s $3.29 billion.
- Net income for the quarter came in at $122.1 million, or 28 cents per share, which is lower than last year’s Q4 net income of $367.7 million, or 82 cents per share.
- On an adjusted basis, VFC reported EPS of 98 cents, up from last year’s Q4 adjusted EPS of 82 cents.
- VFC met analysts’ estimates of 98 cents EPS, while revenues were slightly below the $3.59 billion expectation.
CEO Commentary
VFC chairman, president and CEO Eric Wiseman had the following comments: “Our powerful brands and the competitive advantage of our business platforms combined with our relentless focus on operational excellence delivered another year of strong returns for our shareholders. Our four largest brands: The North Face®, Vans®, Timberland®, and Wrangler®, along with many of our other brands, were strong performers as we grew our business in every region and channel around the world."
VFC Declares Dividend
VFC declared a 32-cent quarterly dividend, which is payable on March 20 to all shareholders on record as of March 10. The stock goes ex-dividend on March 6.
Stock Performance
VFC stock was inactive in pre-market trading. The stock is down 3.74% YTD.
The Bottom Line
V.F. Corp (VFC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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