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Jul 02, 2022
VF Corp Q1 2023 Earnings Report
VF Corporation reported solid top-line performance and revised full year fiscal 2023 outlook due to currency impact.
Key Takeaways
VF Corporation announced its Q1'FY23 financial results, with revenue up 3% to $2.3 billion (up 7% in constant dollars). The North Face® revenue increased by 31%, while Vans® revenue decreased by 7%. The company is revising its full year fiscal 2023 outlook due to ongoing negative impacts from foreign currency fluctuations.
Revenue increased by 3% (up 7% in constant dollars) to $2.3 billion.
The North Face® revenue increased 31% (up 37% in constant dollars).
Vans® revenue decreased 7% (down 4% in constant dollars).
Adjusted EPS is expected to grow 4% to 7% versus the prior year on a constant dollar basis.
Forward Guidance
VF is maintaining its currency adjusted FY23 outlook while revising its earnings outlook on a reported dollar basis to reflect ongoing negative impacts from foreign currency fluctuations; we now expect adjusted EPS of $3.05 to $3.15, implying 4% to 7% growth versus the prior year on a constant dollar basis
Historical Earnings Impact
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Avg. Return Before/After Earnings
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