VF Corp. Reaffirms FY22 Earnings, But Trims Revenue Outlook; Declares Dividend - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Friday, VF Corp. (VFC) reaffirmed its adjusted earnings guidance for the full-year 2022, but trimmed annual revenue outlook.

For fiscal 2022, the company continues to expect adjusted earnings to be approximately $3.20 per share, including an approximate $0.25 contribution from the Supreme brand.

However, the company now projects full-year revenues to be about $11.85 billion, reflecting growth of approximately 28 percent, including an about $600 million contribution from the Supreme brand. Previously, the company projects revenues of about $12.0 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.17 per share on revenues of $11.95 billion for the year. Analysts' estimates typically exclude special items.

Further, VF's Board of Directors declared a quarterly dividend of $0.50 per share, payable on March 21, 2022, to shareholders of record on March 10, 2022. Subject to approval by its Board of Directors, VF intends to continue to pay its regularly scheduled dividend.