VF Corp Stock Is Sliding: What's Going On?
Portfolio Pulse from Adam Eckert
VF Corp (NYSE:VFC) reported disappointing fiscal third-quarter results with a 16% year-over-year revenue decline to $2.96 billion, missing the consensus estimate of $3.24 billion. The North Face and Vans brands saw significant revenue drops. Adjusted earnings per share were 57 cents, below the expected 77 cents. Despite this, VF Corp reaffirmed its full-year 2024 free cash flow guidance of $600 million and announced a strategic review of its brand assets and a quarterly dividend of 9 cents per share.
February 06, 2024 | 9:57 pm
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NEGATIVE IMPACT
VF Corp reported lower-than-expected Q3 results with significant revenue and earnings misses, leading to a 7.46% drop in after-hours trading. The company reaffirmed its full-year 2024 free cash flow guidance and announced a strategic review of its brand assets.
The significant miss in both revenue and earnings expectations directly impacts investor sentiment and stock price in the short term. The reaffirmation of the 2024 cash flow guidance and strategic brand review may provide some stability, but the immediate reaction is negative.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100