V.F. Corporation (NYSE:VFC) revealed its second quarter earnings results on Friday 16th October 2020 before market open.
V.F. Corporation revealed quarterly income of $ 0.62 per share, from the revenue of $ 2,608.32 million. On adjusted basis, the firm reported income for the quarter of $ 0.67 per share.
The consensus estimate are $ 0.49 income per share from revenues of $ 2497.99 million.
The second quarter financial report outlined, earnings beat street analysts by $ 0.18 or 36.73 percent, where as revenues outshined analysts estimates by $ 110.33 million or 4.42 percent.
On the other hand, The quarterly earnings down 61.49 percent compared with the same quarter last year, at the same time revenues dropped 17.97 percent versus second quarter of last year.
Steve Rendle, Chairman, President and CEO, said, We are beginning to see signs of stabilization and strength across all aspects of our business, supporting our decision to raise the dividend and provide a financial outlook for the balance of the year. Although uncertainties remain, investments in our digital transformation are resulting in near-term momentum and improved capabilities to emerge in an even stronger position.
Moving forward, VFC announced revenue outlook for 2021 to be atleast $ 9000.00 million, At the same time, earnings estimate of approx $ 1.20 per share.The consensus estimates for 2021 are income of $ 1.12 per share from $ 8834.05 million in revenue.
