V.F. Corporation earnings for the company’s fiscal fourth quarter of 2019 has VFC stock down on Wednesday.
The bad news for V.F. Corporation (NYSE:VFC) comes from its outlook for fiscal 2020. This starts with it expecting earnings per share for the year to range from $3.30 to $3.35. Unfortunately for VFC stock, Wall Street is looking for earnings per share in fiscal 2020 to be $4.26.
It isn’t just a weak earnings per share outlook that is hitting VFC stock today. The company also says that it is expecting revenue for fiscal 2020 to come in between $11.70 billion to $11.80 billion. Analysts are estimating revenue of $14.64 billion for the fiscal full year of 2020.
“Fiscal 2019 marked one of the most significant periods of transformation in VF’s 120-year history, highlighted by our announcement to spin off our Jeans business as an independent, publicly traded company,” Steve Rendle, Chairman, President and CEO of V.F. Corporation, said in a statement. “Despite the tremendous workload, we remained sharply focused and delivered another year of strong financial results and top quartile returns to our shareholders.”
The poor outlook in the most recent V.F. Corporation earnings report drags down what its solid results for the period. This includes earnings per share of 60 cents. That’s down form its earnings per share of 67 cents from the same time last year. However, it did come in above Wall Street’s earnings per share estimate of 58 cents for the period.
There’s also V.F. Corporation’s revenue of $3.21 billion for its fiscal fourth quarter of 2019. That’s better than the company’s revenue of $3.05 billion from the same period of the year prior. It also matches analysts’ revenue estimate for the quarter.
VFC stock was down 3% as of noon Wednesday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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