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Avon Products profit beats consensusin Q2

Avon Products Inc. said its normalized net income for the second quarter amounted to 12 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS climbed 27.3% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $50.6 million, an increase of 27.8% from $39.6 million in the prior-year period.

The normalized profit margin climbed to 3.5% from 2.5% in the year-earlier period.

Total revenue decreased 8.3% on an annual basis to $1.43 billion from $1.56 billion, and total operating expenses decreased 9.6% year over year to $1.33 billion from $1.47 billion.

Reported net income rose 17.1% year over year to $30.6 million, or 7 cents per share, from $26.1 million, or 6 cents per share.