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VF Corp
šŸ‡ŗšŸ‡ø NYSE:VFC
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Oct 02, 2021

VF Corp Q2 2022 Earnings Report

VF Corp experienced revenue growth and earnings per share increase in Q2 2022.

Key Takeaways

VF Corporation reported a strong second quarter with revenue increasing by 23% to $3.2 billion and adjusted earnings per share increasing by 66% to $1.11. The company reaffirms its full year fiscal 2022 earnings outlook.

Revenue from continuing operations increased 23 percent to $3.2 billion.

Gross margin increased 290 basis points to 53.7 percent.

Operating income increased 56 percent to $534 million.

Adjusted earnings per share increased 66 percent to $1.11.

Total Revenue
$3.2B
Previous year: $2.61B
+22.6%
EPS
$1.11
Previous year: $0.67
+65.7%
Gross Margin
53.7%
Gross Profit
$1.72B
Previous year: $1.33B
+29.6%
Cash and Equivalents
$1.36B
Previous year: $1.88B
-27.6%
Total Assets
$13.9B
Previous year: $12.9B
+7.3%

VF Corp

VF Corp

VF Corp Revenue by Segment

Forward Guidance

VF's full year outlook assumes no material deterioration to the company's current business operations as a result of COVID-19 and related governmental actions and regulations. Revenue is expected to be approximately $12.0 billion, reflecting growth of around 30 percent, including an approximate $600 million contribution from the SupremeĀ® brand. Adjusted earnings per share is expected to be around $3.20, including an approximate $0.25 contribution from the SupremeĀ® brand.

Positive Outlook

  • Revenue is expected to be approximately $12.0 billion, reflecting growth of around 30 percent, including an approximate $600 million contribution from the SupremeĀ® brand.
  • Revenue for Outdoor is now expected to increase between 25 percent and 27 percent.
  • Revenue for Active is now expected to increase between 35 percent and 37 percent.
  • Revenue for Work is now expected to increase between 19 and 21 percent.
  • Adjusted gross margin is expected to be around 56.0 percent.

Challenges Ahead

  • Direct-to-consumer revenue is now expected to increase between 34 percent and 36 percent versus the previous expectation of 39 percent and 41 percent.
  • Digital revenue growth of about 20 percent versus the previous expectation of 29 and 31 percent.
  • Assumes no material deterioration to the company's current business operations as a result of COVID-19
  • Continued port congestion, equipment availability and other logistics challenges have contributed to increasing product delays.
  • COVID-19 uncertainty continues, VF expects ongoing disruption to its business operations.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View VF Corp