VF Corp. shares rose 4% in Monday premarket trading after the clothing company reported third-quarter earnings that beat expectations and raised its outlook. VF Corp. brands include Timberland, The North Face, Wrangler and Dickies. Net income for the quarter totaled $386.1 million, or 97 cents per share, down from $498.5 million, or $1.19 per share. Adjusted EPS was $1.23, ahead of the $1.12 per share FactSet consensus. Revenue was $3.51 billion, up from $3.33 billion last year and ahead of the $3.39 billion FactSet consensus. VF Corp. now expects 2017 revenue of $12.1 billion, up from previous guidance of $11.85 billion. EPS is expected to be $2.73, and adjusted EPS is expected to be $3.01. The previous adjusted EPS estimate was $2.96. On Oct. 19, VF Corp. raised its dividend to 46 cents per share, up 10% from the previous quarter. VF Corp. shares are up 13.2% for the last three months, and up 24.4% for the year so far. The S&P 500 index is up 15% for 2017 to date.
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