VF Corp. Lowers FY20 Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the third quarter on Thursday, VF Corp. (VFC) lowered its financial outlook for fiscal 2020.

The company's outlook for full year fiscal 2020 is on an adjusted continuing operations basis, which includes the occupational Work business.

For fiscal 2020, VF Corp. now forecasts revenue to be about $11.75 billion, reflecting an increase of about 5 percent, or 7 percent on a constant dollar basis excluding the impact of acquisitions and divestitures.

Earlier, the company projected revenues of about $11.8 billion, reflecting an increase of approximately 6 percent, or about 8 percent on a constant dollar basis excluding the impact of acquisitions and divestitures.

VF Corp. now forecasts full-year adjusted earnings per share to be approximately $3.30, reflecting growth of approximately 15 percent, or about 18 percent on a constant dollar basis, excluding acquisitions and divestitures.

This compares to the company's previous expectation of full-year adjusted earnings per share in the range of $3.32 to $3.37, reflecting growth of 16 percent to 18 percent, or 19 percent to 21 percent on a constant dollar basis excluding the impact of acquisitions and divestitures.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.37 per share for the year on revenues of $11.85 billion. Analysts' estimates typically exclude special items.

VF Corp.'s board of directors declared a quarterly dividend of $0.48 per share, payable on March 20, 2020, to shareholders of record on March 10, 2020.