Revlon beats by $0.54, beats on revs
- Reports Q3 (Sep) earnings of $0.14 per share, $0.54 better than the single analyst estimate of ($0.40); revenues fell 1.7% year/year to $655.4 mln vs the $639.6 mln single analyst estimate.
- The Company today is also announcing the 2018 Optimization Program, which is expected to deliver in the range of approximately $125 million to $150 million of annualized cost reductions by the end of 2019.
- Revlon segment net sales in the third quarter of 2018 were $249.5 million, a 2.0% decrease Y/Y
- Elizabeth Arden segment net sales in the third quarter of 2018 were $122.1 million, +16.5% Y/Y
- Portfolio segment net sales of $138.4 million in the third quarter of 2018 decreased by 6.4%
- Fragrances segment net sales of $145.4 million in the third quarter of 2018 decreased by 8.7%