Avon Products Inc. , leading manufacturer and marketer of beauty and related products, reported adjusted earnings of 7 cents per share for second-quarter 2016 results, beating the Zacks Consensus Earnings Estimate of 3 cents but declined 22.2% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate has been declining over the last 60 days. Further, if we look at Avon’s performance in the trailing four quarters (excluding the quarter under review), the surprise history has been largely negative. The company has posted negative surprise in three of the trailing four quarters, with an average surprise of -187.5%.

Revenues: Avon Products’ total revenue of $1,434.3 million decreased about 8% year over year but surpassed the Zacks Consensus Estimate of $1,411 million. On a constant dollar basis, sales grew 4%. Sales jumped 5% on a constant dollar basis, excluding the impact of Liz Earle’s divestiture.

Zacks Rank: Currently, Avon Products carries a Zacks Rank #5 (Strong Sell) which is subject to change following the earnings announcement.

Check back later for our full write up on Avon Products’ earnings report!

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