VF Corporation today announced financial results for its fourth quarter and fiscal year ended April 1, 2023 in line with guidance.
Q4 FY23 Financial Highlights
Revenue $2.7 billion, down 3%. | May 23, 2023
It’s been 8 and a half years since
Abbott Laboratories (NYSE:
ABT) spun off its branded drug unit into a publicly-traded company. At the time, AbbVie had annual revenue of $18.4 billion. Half of its annual sales came from Humira, the company’s biologic therapy intended to treat autoimmune diseases such as psoriasis, rheumatoid arthritis, Crohn’s disease and the like.
Today, ABBV has $45.8 billion in sales (2020) and $11.4 billion in operating earnings. Humira now accounts for 43% of its overall sales, down from 61% in 2018. AbbVie increased its quarterly dividend by 10.2% to $1.30 per share with its February dividend payment. An annualized dividend of $5.20 yields 4.5%.
Tonight
Mostly cloudy skies. A stray shower or thunderstorm is possible. Low 71F. Winds S at 5 to 10 mph.
Tomorrow
Rain showers in the morning with thunderstorms developing in the afternoon. High 83F. Winds S at 5 to 10 mph. Chance of rain 60%.
July 1, 2021
DENVER June 28, 2021 VF Corporation, a global supplier of branded lifestyle apparel, footwear and accessories, today announced that it has completed the sale of the occupational portion of its Work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company.
The occupational workwear portion of VF’s Work segment includes the following brands: Red Kap®, VF Solutions®, Bulwark®, Workrite®, Walls®, Terra®, Kodiak®, Work Authority® and Horace Small®.
The sale does not include the Dickies® and Timberland PRO® brands.
The announcement follows the April 28, 2021, news release in which VF announced that it had entered into a definitive agreement regarding the sale of this business. Terms of the agreement were not disclosed.
Sunrise: 05:32:23 AM
Sunset: 08:05:58 PM
Dew Point: 71°
Today
Scattered clouds with the possibility of an isolated thunderstorm developing during the afternoon. High 89F. Winds SW at 5 to 10 mph. Chance of rain 30%.
Tonight
Overcast. A stray shower or thunderstorm is possible. Low 71F. Winds SSW at 5 to 10 mph.
Tomorrow
Thunderstorms likely. High 83F. Winds WSW at 5 to 10 mph. Chance of rain 80%. Locally heavy rainfall possible.