Avon Products beats by $0.09, misses on revs (4.26)
- Reports Q3 (Sep) earnings of $0.11 per share, excluding non-recurring items, $0.09 better than the S&P Capital IQ Consensus of $0.02; revenues fell 16.6% year/year to $1.19 bln vs the $1.26 bln S&P Capital IQ Consensus.
- Total Reportable Segment Revenue decreased 16% in reported currency. Adjusted Total Reportable Segment Revenue decreased 6% in constant dollars, driven by unit volume declines from less profitable products.
- Adjusted Gross Margin increased 100 basis points to 58.1%, driven by price/mix which offset foreign exchange.