VF Corp Q1 2022 Earnings Report
Key Takeaways
VF Corporation reported an outstanding first quarter, with revenue increasing 104 percent to $2.2 billion. The company's earnings recovery was ahead of expectations, and they are seeing broad-based momentum across the portfolio.
Revenue from continuing operations increased 104 percent to $2.2 billion.
Active segment revenue increased 128 percent including a 110 percent increase in Vans® brand revenue.
Outdoor segment revenue increased 81 percent including a 93 percent increase in The North Face® brand revenue.
Adjusted earnings per share from continuing operations increased 148 percent to $0.27, including a $0.07 per share contribution from acquisitions.
VF Corp
VF Corp
VF Corp Revenue by Segment
Forward Guidance
VF's full year fiscal 2022 outlook has been updated and includes the following: Revenue is now expected to be at least $12.0 billion and adjusted earnings per share is expected to be at least $3.20.
Positive Outlook
- Revenue is now expected to be at least $12.0 billion, reflecting growth of at least 30 percent, including an approximate $600 million contribution from the Supreme® brand.
- Revenue for Outdoor is now expected to increase between 24 percent and 26 percent.
- Revenue for Active is now expected to increase between 37 percent and 39 percent.
- Revenue for Work is now expected to increase between 16 and 18 percent.
- Adjusted earnings per share is expected to be at least $3.20, including an approximate $0.25 contribution from the Supreme® brand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income