VF Corp.

NYSE:VFC   4:00:00 PM EDT
34.34
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Other Pre-Announcement

VF Corporation Introduces Fiscal Year 2027 Long-Term Strategic Plan And Financial Targets With Revised Outlook For Fiscal Year 2023

Published: 09/28/2022 13:43 GMT
VF Corp. (VFC) - Oration Introduces Fiscal Year 2027 Long-term Strategic Plan and Financial Targets With Revised Outlook for Fiscal Year 2023.
Sees FY Adjusted Earnings per Share $2.60 to $2.70.
FY23 Outlook Revised; Revenue Expected to Be Up About 5% to 6% and Adjusted EPS Expected to Be in Range of $2.60 to $2.70.
Sees FY27 Revenue Five-year Compounded Annual Growth Rate (cagr) Up Mid- to High Single Digit % (in Constant Dollars).
Q2'fy23 Revenue Expected to Be Up Low Single Digit % (in Constant Dollars) and Adjusted EPS Expected to Be in Range of $0.70 to $0.75.
FY27 Financial Targets Include Earnings per Share (eps) to Grow at a Five-year Cagr of High Single to Low Double-digit %.
Sees FY27 Cash Available to Return to Shareholders Through Dividends, Share Repurchases of About $7 Billion (cumulative Between FY2023 & FY27).
Revising Its FY23 Outlook Due to Lower-than-expected Q2'fy23 Results.
Testing Supreme Trademark and Goodwill Values During Q2 Due to a Triggering Event.
Expects to Record a Non-cash Charge During Fiscal Q2 in Range of $300 Million to $450 Million.
FY2023 Earnings per Share View $3.04 -- Refinitiv Ibes Data (analyst estimates).