Leading manufacturer and marketer of beauty and related products, Avon Products, Inc. reported second-quarter 2017 results. The company posted adjusted loss from continuing operations of 3 cents per share, against earnings of 7 cents delivered in the year-ago quarter and also compared unfavorably with the Zacks Consensus Earnings Estimate of 5 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has trended slightly downward in the last 30 days. However, if we look at Avon’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 3.7%.
Revenues: Avon Products’ total revenue of $1,353.5 million declined 3% year over year and also came below the Zacks Consensus Estimate of $1,443 million. On a constant dollar basis, sales declined 4%.
For 2017, management continues to anticipate revenues to grow in low single-digits, on a constant dollar basis.
Key Events: The company is on track with its Transformation Plan that was announced in Jan 2016. The plan mainly includes investing in growth, enhancing cost structure and improving financial flexibility. In this regard, management plans to raise its capital expenditures by nearly $65 million, in 2017.
Zacks Rank: Currently, Avon Products carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Following the dismal second-quarter 2017 results, shares of Avon Products declined 10.7% during the pre-market trading hours.
Check back later for our full write up on Avon Products’ earnings report!
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Leading manufacturer and marketer of beauty and related products, Avon Products, Inc. reported second-quarter 2017 results. The company posted adjusted loss from continuing operations of 3 cents per share, against earnings of 7 cents delivered in the year-ago quarter and also compared unfavorably with the Zacks Consensus Earnings Estimate of 5 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has trended slightly downward in the last 30 days. However, if we look at Avon’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 3.7%.
Revenues: Avon Products’ total revenue of $1,353.5 million declined 3% year over year and also came below the Zacks Consensus Estimate of $1,443 million. On a constant dollar basis, sales declined 4%.
For 2017, management continues to anticipate revenues to grow in low single-digits, on a constant dollar basis.
Key Events: The company is on track with its Transformation Plan that was announced in Jan 2016. The plan mainly includes investing in growth, enhancing cost structure and improving financial flexibility. In this regard, management plans to raise its capital expenditures by nearly $65 million, in 2017.
Zacks Rank: Currently, Avon Products carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Following the dismal second-quarter 2017 results, shares of Avon Products declined 10.7% during the pre-market trading hours.
Check back later for our full write up on Avon Products’ earnings report!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>