Avon Products Inc. , leading manufacturer and marketer of beauty and related products, reported adjusted earnings of 2 cents per share for third-quarter 2016 results, which fell a penny short of the Zacks Consensus Earnings Estimate, but fared better than the year ago loss of 11 cents per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been unchanged 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 underperformed the Zacks Consensus Estimate by an average of 168.5%.
Revenues: Avon Products’ total revenue of $1,408.8 million decreased 2.1% year over year and also came below the Zacks Consensus Estimate of $1,438 million. On a constant dollar basis, sales grew 4%.
Key Events: With regard to the Transformation Plan announced in Jan 2016, the company is on track to deliver savings of $350 million over a three year period. In fact, management stated that for 2016, the company has fastened its cost saving efforts, owing to which it is running ahead of schedule. Evidently, through the first nine months of 2016, the company had already realized savings of $80 million out of the planned $90 million.
Zacks Rank: Currently, Avon Products carries a Zacks Rank #2 (Buy) 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: Avon’s shares were up nearly 8% during pre-market trading hours following the earnings release.
Check back later for our full write up on Avon Products’ earnings report!
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Avon (AVP) Stock Up 8% Despite Q3 Earnings & Sales Miss
Avon Products Inc. , leading manufacturer and marketer of beauty and related products, reported adjusted earnings of 2 cents per share for third-quarter 2016 results, which fell a penny short of the Zacks Consensus Earnings Estimate, but fared better than the year ago loss of 11 cents per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been unchanged 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 underperformed the Zacks Consensus Estimate by an average of 168.5%.
AVON PRODS INC Price and EPS Surprise
AVON PRODS INC Price and EPS Surprise | AVON PRODS INC Quote
Revenues: Avon Products’ total revenue of $1,408.8 million decreased 2.1% year over year and also came below the Zacks Consensus Estimate of $1,438 million. On a constant dollar basis, sales grew 4%.
Key Events: With regard to the Transformation Plan announced in Jan 2016, the company is on track to deliver savings of $350 million over a three year period. In fact, management stated that for 2016, the company has fastened its cost saving efforts, owing to which it is running ahead of schedule. Evidently, through the first nine months of 2016, the company had already realized savings of $80 million out of the planned $90 million.
Zacks Rank: Currently, Avon Products carries a Zacks Rank #2 (Buy) 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: Avon’s shares were up nearly 8% during pre-market trading hours following the earnings release.
Check back later for our full write up on Avon Products’ earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand.Click to see them now>>