VF's (NYSE:VFC) net income moved south as costs rose in the second quarter.
Earnings and Revenue The company managed to beat EPS estimates, though the company's revenues failed to top expectations. The company reported EPS of $1.40 a share versus the 94 cents a share estimate and revenues of $2.1 billion versus the $2.18 billion estimate. The company's reported EPS came in above the high estimate of 17 analysts of a profit of $1.
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The company's net income for the quarter was $123 million. This is a 4.9% decline from last year. Revenue climbed 14.1% from $1.84 billion in the same period last year.
Company Fundamental Trends With last quarter's falling profit, The company ends a run of at least four consecutive quarters of year-over-year profit increases. The company has averaged revenue growth of 24% over the past five quarters.
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by 6 cents in the first quarter, 2 cents in the fourth quarter of the last fiscal year and 32 cents in the third quarter of the last fiscal year.
Official Comment: "We've reached the halfway mark of the year, and are right on track to deliver another year of strong and very profitable growth to our shareholders," said Eric Wiseman, VF Corporation Chairman and Chief Executive Officer. "The strength of VF's business model - a diverse portfolio strategy supported by an intense focus on financial and operational disciplines - provides us with a clear competitive advantage as we successfully navigate through an increasingly uncertain economic environment."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.