Avon Products Inc. Earnings: Profit Streak Snapped by a Loss
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Avon Products Earnings Cheat Sheet for the Fourth Quarter
Results: Reported a loss of $400,000 (0 cents per diluted share) in the quarter. Avon Products Inc. had a net income of $229.5 million or 52 cents per share in the year earlier quarter.
Revenue: Fell 4.2% to $3.04 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: Avon Products Inc. reported adjusted net income of 39 cents per share. By that measure, the company fell short of mean estimate of 51 cents per share. It fell short of the average revenue estimate of $3.11 billion.
The company has now fallen short of analyst estimates for the last three quarters. It missed the mark by 8 cents in the third quarter and by one cent in the second quarter.
The company’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $164.2 million in the third quarter, a profit of $206.2 million in the second quarter and $143.6 million in the first.
Looking Forward: Over the past sixty days, the outlook for the company’s performance next quarter has become increasingly unfavorable. The average estimate for the first quarter of the next fiscal year is 33 cents per share, a drop from 36 cents. For the fiscal year, the average estimate has moved down from $1.79 a share to $1.76 over the last ninety days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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