V.F. Corporation (VFC) came out with first-quarter 2015 results, wherein earnings of 67 cents, remained flat year over year and also came in line with the Zacks Consensus Estimate. On a currency neutral basis, earnings jumped about 13% year over year.
Following the results, management expects its currency neutral earnings per share for 2015 to jump 14%, compared to a 12% growth forecasted earlier. However, on a reported basis, earnings are still expected to rise 4%.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2015 has been volatile over the last 30 days. Further, if we look at V.F. Corp.’s performance in the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate marginally, by an average of 0.2%.
Revenues: V.F. Corp. generated total revenue of $2,837.3 million that climbed 2% year over year. However, total revenue fell short of the Zacks Consensus Estimate of $2,870 million. The year over year increase was backed by strength witnessed at all segments.
During the quarter, the company repurchased 10 million shares worth $730 million.
Zacks Rank: Currently, V.F. Corp. carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
Stock Movement: V.F. Corp.’s shares fell about 1% during pre-market trading hours following the earnings release.
Check back later for our full write up on V.F. Corp.’s earnings report!
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