VF reports Q3 adjusted EPS $1.12, revenue $3.53B; cuts dividend 41%; lowers margin outlook

V F CORP

2023-Q3 EPS reported $0.86 revenue$8,872,862,000

GAAP EPS $1.31 (down 1%); Adjusted EPS $1.12 (down 17%); Revenue $3.53B, down 3% (up 3% cc).
Dividend cut to $0.30/share from $0.51 (41% decrease); payable March 21, 2023.
Vans revenue down 13% (-9% cc); The North Face up 7% (+13% cc); EMEA constant currency up 10%.
FY23 outlook: Adj. EPS $2.05-$2.15 reaffirmed; Adj. operating margin ~9.5% (prior ~11%); gross margin down ~200 bps.
Exploring sale of Global Packs business (Kipling, Eastpak, JanSport); targeting asset sales including European HQ sale-leaseback.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

V F CORP reported third quarter (Q3'FY23) ended December 31, 2022 results: revenue $3.5 billion, EPS $1.31. Guidance reaffirmed.

Period: third quarter (Q3'FY23) ended December 31, 2022
Revenue: $3.5 billion
EPS: $1.31
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Q3'FY23 Financial Highlights Revenue down 3% (up 3% in constant dollars) to $3.5 billion Earnings per share (EPS) down 1% to $1.31; Adjusted EPS down 17% to $1.12

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Source: SEC EDGAR

accession 0001157523-23-000196

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