Avon Products earnings for the fourth quarter of 2018 have AVP stock heading lower on Thursday.
Avon Products (NYSE:AVP) starts off its earnings report for the fourth quarter of the year with earnings per share of 7 cents. This is down from its earnings per share of 12 cents from the same period of the year prior. However, it does manage to match Wall Street’s earnings per share estimate of 7 cents for the quarter, but was unable to keep AVP stock from falling today.
Avon Products earnings for the fourth quarter of 2018 also include a net loss of $77.50 million. This is a drop from the company’s net income of $90.40 million reported in the fourth quarter of the previous year.
Operating loss from the Avon Products earnings report for the fourth quarter of the year comes in at $49.60 million. The direct seller of beauty products reported operating income of $131.50 million during the same time last year.
The most recent Avon Products earnings release also has it reporting revenue of $1.40 billion. This is a decrease from the company’s revenue of $1.57 billion reported in the fourth quarter of 2017. It was also a blow to AVP stock by coming in below analysts’ revenue estimate of $1.43 billion for the period.
“We are in the initial stages of our turn-around plan with fourth-quarter results showing sequential improvement in revenue trends in 4 of our top 5 markets, as well as some early signs of progress against our core strategies,” Avon Products CEO Jan Zijderveld said in a statement.
AVP stock was down 7% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.