Avon Products Q1 Loss Narrows, Revenues Up; Sees Higher Revenues, Margin In FY17

(RTTNews) - Avon Products, Inc. (AVP), a beauty and related products company, reported Thursday that its first-quarter net loss attributable to the company was $36.5 million or $0.10 per share, narrower than last year's loss of $165.9 million or $0.38 per share.

Adjusted loss was $28 million, or a loss of $0.07 per share. The prior year's adjusted loss from continuing operations was $27 million or a loss of $0.07 per share.

Revenue increased 2% to $1.33 billion from last year's $1.31 billion. Revenues dropped 1% in constant dollars.

On average, 19 analysts polled by Thomson Reuters expected earnings of $0.01 per share on revenues of $1.34 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, for full-year 2017, the company expects constant-dollar revenue growth in the low single-digits, adjusted operating margin expansion of 100 to 140 bps over the prior year and free cash flow to be slightly positive.

The company added that it is on track to achieve its 2017 cost savings target of $230 million.