Revlon (NYSE:REV) earnings for the makeup company’s third quarter of 2019 have REV stock taking a beating on Friday. Adjusted losses per share for the quarter come in at -71 cents. Wall Street was looking for -83 cents. Revenue of $596.80 million is well below analysts’ estimates of $641.90 million.
Let’s take a closer look at the Revlon earnings report for Q3 2019.
- REV saw its EPS change from profit in the third quarter of 2018 to a loss in the current quarter.
- Revenue is sitting 8.94% lower than the $655.40 million reported in the same period of the year prior.
- Gross profit comes in at $327.80 million, which is down 6.45% from $350.40 million in Q3 2018.
- The Revlon earnings report also includes an operating income of $16.70 million.
- That’s a 626.09% increase from $2.30 million in the same time last year.
- Net loss of -$44.70 million is 302.70% wider than the -$11.10 million from the third quarter of 2018.
Debra Perelman, President and CEO of Revlon, has this to say about the REV stock earnings.
“While we were disappointed with the negative results in the North America business, we remain pleased with the momentum and strong growth we are achieving in Elizabeth Arden and the expansion of our businesses in China, travel retail and e-commerce. The Revlon brand continued to be impacted by overall category declines as well as customer inventory reductions and the planned management of trade inventory levels.”
REV stock was down 12.85% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.