V.F.: Fiscal 2Q Earnings Snapshot
V.F.: Fiscal 2Q Earnings Snapshot
GREENSBORO, N.C. (AP) _ V.F. Corp. (VFC) on Friday reported fiscal second-quarter net income of $507.1 million.
On a per-share basis, the Greensboro, North Carolina-based company said it had net income of $1.26. Earnings, adjusted for non-recurring costs, were $1.43 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The maker of brands such as Vans, North Face and Timberland posted revenue of $3.91 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $3.86 billion.
V.F. expects full-year earnings to be $3.65 per share, with revenue expected to be $13.7 billion.
V.F. shares have risen 18 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 4 percent. The stock has risen 34 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VFC at https://www.zacks.com/ap/VFC