V.F. Corp Q4 EPS Beats Estimates, Ex-Dickies Revenue Jumps 8% and Guides Higher
VFC•V.F. Corp posted Q4 adjusted EPS of $0.06, topping forecasts and generating $2.17B in revenue, with revenue ex-Dickies up 8% year-over-year and North Face sales rising 12%. The company reinstated fiscal 2027 guidance calling for 1-2% constant-currency revenue growth, an ~8% operating margin and stable or improved cash flow above $405M.
1. Q4 Financial Results
V.F. Corp posted adjusted EPS of $0.06 in the fourth quarter, surpassing forecasts of a $0.01 loss and delivering $2.17 billion in revenue, up 1% year-over-year and above consensus estimates of $2.13 billion.
2. Brand Performance Breakdown
Excluding the $600 million Dickies divestment, revenue rose 8% year-over-year (3% constant currency); The North Face grew 12% (7% cc) driven by a 17% increase in the Americas, Timberland rose 8% (2% cc), while Vans declined 1% (5% cc) despite a direct-to-consumer recovery in the Americas.
3. Profitability and Cash Flow
Adjusted operating income excluding the Dickies business reached $54 million, well above the guided range of $10 million to $30 million, and free cash flow last year was $405 million, with expectations for flat or improved cash generation in fiscal 2027.
4. Fiscal 2027 Outlook
The company reinstated full-year guidance for fiscal 2027, forecasting 1-2% constant-currency revenue growth, an approximately 8% adjusted operating margin and stable or improving free cash flow above prior-year levels.
