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Jul 03, 2021
VF Corp Q1 2022 Earnings Report
VF Corp reported first quarter fiscal 2022 results and raised full year fiscal 2022 outlook.
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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