WASHINGTON (dpa-AFX) - While reporting financial results for the second quarter on Friday, VF Corp. (VFC) provided adjusted earnings and revenue guidance for the full-year 2021, above analysts' expectations.
For fiscal 2021, the company now projects adjusted earnings to be at least $1.20, reflecting a decrease of approximately 55 percent from last year. It also expects full-year revenues of at least $9.0 billion, reflecting a decrease of approximately 14 percent on an adjusted basis, including low single-digit growth in the second half driven by a return to growth in the fourth quarter.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.12 per share on revenues of $8.83 billion for the year. Analysts' estimates typically exclude special items.
Further, VF's Board of Directors declared a 2 percent higher quarterly dividend of $0.49 per share, payable on December 21, 2020, to shareholders of record on December 10, 2020.
Subject to approval by its Board of Directors, VF intends to continue to pay its regularly scheduled dividend and is not currently contemplating the suspension of its dividend.
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