VF Corp. Boosts FY21 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Wednesday, VF Corp. (VFC) raised its adjusted earnings and revenue guidance for the full-year 2021.

For fiscal 2021, the company now projects adjusted earnings to be approximately $1.30, reflecting a decrease of approximately 51 percent. It also now expects full-year revenues to be in the range of $9.1 billion to $9.2 billion, reflecting a decrease of 12 to 13 percent on an adjusted basis.

Previously, the company expected adjusted earnings of at least $1.20 per share on revenues of at least $9.0 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.36 per share on revenues of $9,19 billion for the year. Analysts' estimates typically exclude special items.

Further, VF's Board of Directors declared a quarterly dividend of $0.49 per share, payable on March 22, 2021, to shareholders of record on March 10, 2021.

Subject to approval by its Board of Directors, VF intends to continue to pay its regularly scheduled dividend and is not currently contemplating the suspension of its dividend.

"Our portfolio remains on track to return to growth in the fiscal fourth quarter and we are confident in VF's plans to accelerate growth into fiscal 2022 and to continue advancing our business model transformation," said Steve Rendle, VF's Chairman, President and CEO.