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V.F. Corp. Shares Up 3% on Strong 2023 Outlook, Despite Q4 Earnings Miss

Published 05/19/2022, 01:30 PM
Updated 05/19/2022, 06:02 PM
© Reuters. V.F. Corp. (VFC) V.F. Corp. Shares Up 3% on Strong 2023 Outlook, Despite Q4 Earnings Miss

By Davit Kirakosyan

VF Corp. (NYSE:VFC) shares rose more than 3% after-hours following the company’s reported Q4 results, which came in worse than the Street expectations, while 2023 guidance beat the estimates.

Q4 EPS was $0.45, compared to the consensus of $0.46, and revenue was $2.8 billion (up 9% year-over-year), compared to the consensus of $2.84 billion. The North Face® revenue grew 24% year-over-year to $0.8 billion, and Vans® revenue was flat at $1.0 billion.

The company provided its full 2023-year outlook, expecting EPS in the range of $3.30-$3.40, compared to the consensus estimate of $3.20. Total revenue is expected to grow at least 7% in constant dollars.

Shares of V.F. Corp were down 39% year-to-date into the results.

 

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