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Avon Products profit misses consensus by 40.2% in Q4

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Avon Products profit misses consensus by 40.2% in Q4

Avon Products Inc. said its fourth-quarter normalized net income amounted to $21.6 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 2.6%.

Total revenue totaled $1.61 billion, and total operating expenses came to $1.51 billion.

Reported net income totaled a loss of $13.8 million, or a loss of 3 cents per share.

For the year, the company's normalized net income totaled 22 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 11 cents.

EPS declined 70.5% from 74 cents in the prior year.

Normalized net income was $95.7 million, a fall of 70.4% from $323.6 million in the prior year.

Full-year total revenue fell 19.4% from the prior-year period to $6.16 billion from $7.65 billion, and total operating expenses declined 16.2% on an annual basis to $5.82 billion from $6.94 billion.

The company said reported net income came to a loss of $787.7 million, or a loss of $1.81 per share, in the full year, compared with a loss of $343.3 million, or a loss of 79 cents per share, the prior year.