VF Corp. Shares Rise After Earnings, Revenue Beat Expectations

By Tonya Garcia Markets MarketWatch Pulse

VF Corp. shares rose 2.3% in Monday premarket trading after the company reported second-quarter earnings and revenue that beat estimates. VF Corp.'s portfolio of brands includes Timberland, Wrangler and The North Face. The company reported net income of $109.9 million, or 27 cents per share, up from $51.0 million, or 12 cents per share, for the same period last year. Adjusted EPS was 29 cents, beating the 28-cent FactSet consensus. Revenue was $2.36 billion, up from $2.32 billion last year and ahead of the $2.30 billion FactSet consensus. The company now expects revenue of $11.65 billion, up 2% year-over-year. The FactSet consensus is $11.61 billion. EPS is now expected to be $2.94, down 1%. The company previously guided in the range of $2.89 to $2.94. The FactSet consensus is $2.93. VF Corp. shares are up nearly 10% for the year-to-date while the S&P 500 index is up 10.4% for the period.

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