Avon Products, Inc. (AVP - Free Report) , the leading manufacturer and marketer of beauty and related products, reported fourth-quarter 2017 results. The company posted adjusted earnings from continuing operations of 12 cents per share that surpassed the Zacks Consensus Estimate of 6 cents. Also, it rose substantially from earnings of 1 cent delivered in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has been stable 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 98.7%.
Revenues: Avon’s total revenue of $1,568.8 million remained in line with the year-ago quarter’s figure. However, it fell short of the Zacks Consensus Estimate of $1,592 million. Further, on a constant dollar basis, revenues decreased 2%.
Key Events: The company generated more than $250 million of cost savings under its Transformation Plan, which exceeded its cost-savings target of $230 million for 2017.
Zacks Rank: Currently, Avon Products carries a Zacks Rank #4 (Sell), 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.
Check back later for our full write up on Avon Products’ earnings report!
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