V.F. Corp beats by $0.10, beats on revs; raises FY19 EPS, revs guidance
- Reports Q1 (Jun) earnings of $0.43 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.33; revenues rose 22.9% year/year to $2.79 bln vs the $2.68 bln Capital IQ Consensus.
- Gross margin from continuing operations increased 70 basis points to 50.3 percent; on an adjusted basis, gross margin increased 90 basis points to 50.5 percent; excluding the impact of acquisitions, on an adjusted basis, gross margin increased 170 basis points to 51.3 percent
- Co raises guidance for FY19, sees EPS of $3.52-3.57 [Includes about a $0.06 negative impact from unfavorable foreign currency exchange rates relative to the prior outlook](Prior $3.48-3.53) vs. $3.55 Capital IQ Consensus Estimate; sees FY19 revs of $13.6-13.7 bln (Prior $13.45-13.55 bln) vs. $13.56 bln Capital IQ Consensus Estimate.
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