VF Corp. Reaffirms 2020 Outlook; Raises Dividend - Quick Facts

(RTTNews) - VF Corp. (VFC) said, for fiscal 2020, the company continues to project revenue to approximate $11.8 billion, reflecting an increase of approximately 6 percent (8 percent on a constant dollar basis excluding the impact of acquisitions and divestitures). Adjusted earnings per share is still expected to be in the range of $3.32 to $3.37, reflecting growth of approximately 16 percent to 18 percent (19 percent to 21 percent on a constant dollar basis, excluding acquisitions and divestitures). Analysts polled by Thomson Reuters expect the company to report profit per share of $3.39 on revenue of $11.87 billion. Analysts' estimates typically exclude special items.

For the third-quarter, on an adjusted basis, earnings per share increased 6 percent (up 8 percent in constant dollars) to $1.26. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $1.31, for the quarter.

Third-quarter revenue increased 5 percent (up 7 percent in constant dollars) to $3.39 billion. Excluding the impact of acquisitions and divestitures and on an adjusted basis, revenue increased 6 percent (up 8 percent in constant dollars). Analysts expected revenue of $3.42 billion for the quarter.

VF's Board declared a quarterly dividend of $0.48 per share, a 12 percent increase over the previous quarter's dividend. The dividend will be payable on December 20, 2019, to shareholders of record on December 10, 2019.

Shares of VF Corp. were down 13% in pre-market trade on Friday.