NYSE$VFC
VF Corp · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
VF Corp reported a revenue increase of 23% and EPS of $0.16 for Q4 2021
VF Corporation reported a strong Q4 fiscal 2021 with revenue increasing 23% to $2.6 billion. Earnings per share was $0.16 on a reported basis and $0.27 on an adjusted basis. The company's performance was driven by its largest brands, e-commerce growth, and an increase in the APAC region.
- Revenue increased 23 percent (up 19 percent in constant dollars) to $2.6 billion.
- Excluding the impact of acquisitions, revenue increased 16 percent (up 12 percent in constant dollars).
- Adjusted earnings per share increased 169 percent (up 150 percent in constant dollars) to $0.27, including a $0.06 contribution from acquisitions.
- VF ended fiscal 2021 with approximately $1.45 billion of cash and short-term investments.
Headline financials
Revenue & EPS history
VF Corp · Revenue · Quarterly
$2.58B
Revenue by segment
VF Corp · $2.32B total across 2 segments · Q4 2021
- Active$1.26B+22.0%54.3%
- Outdoor$1.06B+25.1%45.7%
Forward guidance
VF’s outlook for full year fiscal 2022 is on an adjusted continuing operations basis unless otherwise noted.
Tailwinds
- Revenue is expected to approximate $11.8 billion, reflecting growth of approximately 28 percent, including an approximate $600 million contribution from the Supreme® brand.
- Revenue for Outdoor is expected to increase between 23 percent and 25 percent.
- Revenue for Active is expected to increase between 34 percent and 36 percent.
- Revenue for Work is expected to increase between 10 percent and 12 percent.
- Adjusted gross margin is expected to exceed 56.0 percent, which represents an estimated increase of more than 270 basis points.
Headwinds
- Adjusted operating margin is expected to approximate 12.8 percent, which represents an estimated increase of approximately 480 basis points.
- Adjusted earnings per share is expected to approximate $3.05, including an approximate $0.25 contribution from the Supreme® brand.
- Adjusted cash flow from operations is expected to exceed $1.0 billion.
- Other full year assumptions include an effective tax rate of approximately 15 percent and capital expenditures of approximately $350 million.
- VF’s Board of Directors declared a quarterly dividend of $0.49 per share, payable on June 21, 2021, to shareholders of record on June 10, 2021.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2021
-1.5%
Avg return
Earnings day
-2.6%
Avg return
5 days after
+0.6%
Avg return
30 days after
32%
22 / 69 earnings
Positive
+29.3%
Q2 2025
Best reaction
-15.9%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -3.2% | -0.2% | +3.5% | |
| Q3 2026 | -5.5% | +1.1% | -4.2% | |
| Q2 2026 | -12.4% | -15.5% | +4.0% | |
| Q1 2026 | +2.4% | +1.5% | +22.0% | |
| Q4 2025 | -15.9% | -16.8% | -18.8% | |
| Q3 2025 | -3.9% | -7.4% | -6.2% | |
| Q2 2025 | +29.3% | +25.8% | +21.7% | |
| Q1 2025 | +9.5% | +8.3% | +11.0% | |
| Q4 2024 | -3.9% | -1.0% | +14.8% | |
| Q3 2024 | -7.4% | -7.4% | -2.7% | |
| Q2 2024 | -12.8% | -8.3% | +1.4% | |
| Q1 2024 | -3.8% | -2.1% | -0.3% | |
| Q4 2023 | -6.2% | -7.7% | -3.2% | |
| Q3 2023 | -0.8% | -8.3% | -19.7% | |
| Q2 2023 | -4.2% | -1.3% | +19.9% | |
| Q1 2023 | -4.7% | -5.4% | -12.2% | |
| Q4 2022 | +2.9% | -1.0% | -0.6% | |
| Q3 2022 | -3.2% | -3.0% | -12.9% | |
| Q2 2022 | -4.5% | -4.4% | +2.6% | |
| Q1 2022 | -3.2% | -6.2% | -9.4% | |
| Q4 2021 | -9.7% | -6.6% | -6.1% | |
| Q3 2021 | -6.8% | -7.6% | -7.0% | |
| Q2 2021 | -6.7% | -6.4% | +2.3% | |
| Q1 2021 | -1.1% | +2.4% | +12.3% | |
| Q4 2020 | +1.8% | +1.0% | +10.5% | |
| Q3 2020 | -10.6% | -11.6% | -11.5% | |
| Q2 2020 | -8.1% | -9.3% | -4.7% | |
| Q1 2020 | +1.2% | +0.1% | -11.2% | |
| Q4 2019 | -3.0% | -3.1% | +1.9% | |
| Q3 2019 | +11.6% | +13.1% | +18.6% | |
| Q2 2019 | -10.9% | -11.4% | -5.5% | |
| Q2 2018 | +1.8% | -0.7% | -5.5% | |
| Q1 2018 | -2.5% | -0.4% | +3.7% | |
| Q4 2017 | -12.4% | -11.2% | -10.1% | |
| Q3 2017 | +7.3% | +6.8% | +10.5% | |
| Q2 2017 | +4.1% | +5.5% | +6.7% | |
| Q1 2017 | -8.5% | -7.6% | -7.2% | |
| Q4 2016 | +4.1% | +6.2% | +7.1% | |
| Q3 2016 | -2.9% | -0.6% | +4.6% | |
| Q2 2016 | -1.0% | -2.3% | +2.6% | |
| Q1 2016 | +3.2% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | -10.0% | — | — | |
| Q2 2015 | -1.0% | — | — | |
| Q1 2015 | -1.6% | — | — | |
| Q4 2014 | +6.2% | — | — | |
| Q3 2014 | +4.6% | — | — | |
| Q2 2014 | -1.4% | — | — | |
| Q1 2014 | +1.2% | — | — | |
| Q4 2013 | -5.7% | — | — | |
| Q3 2013 | +3.5% | — | — | |
| Q2 2013 | -2.3% | — | — | |
| Q1 2013 | -2.2% | — | — | |
| Q4 2012 | +6.9% | — | — | |
| Q3 2012 | -6.7% | — | — | |
| Q2 2012 | +6.1% | — | — | |
| Q1 2012 | -1.3% | — | — | |
| Q4 2011 | -0.1% | — | — | |
| Q3 2011 | +3.9% | — | — | |
| Q2 2011 | +0.1% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q1 2010 | +0.0% | — | — | |
| Q4 2010 | -0.1% | — | — | |
| Q4 2007 | -0.1% | — | — | |
| Q3 2009 | -0.6% | — | — | |
| Q3 2010 | -0.6% | — | — | |
| Q4 2009 | -0.8% | — | — | |
| Q2 2010 | -0.8% | — | — | |
| Q2 2009 | -0.8% | — | — |
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