Dividend Aristocrat V.F. Corporation (VFC), Vans & Timberland parent company, beats Q3 earnings expectations but misses on revenue as sales increase 4.6% year-on-year while adjusted earnings-per-share rose 14%.
The company expects fiscal 2020 revenue from continuing operations of about $11.75 billion and adjusted EPS of $3.30. This is below the FactSet consensus EPS of $3.37 and revenue of $11.85 billion.
Due to the weaker guidance for the remainder of the fiscal year 2020, and as investors interpreting the new guidance as a warning of possible earnings “miss” in the fourth quarter, the stock dropped almost 10%.
VFC closed thurday $ 85.41 down -9.16 (-9.69%), current dividend yield is 2.03%
