Revlon (REV) Tops Q3 EPS by 3c, Revenues Miss

Revlon (NYSE: REV) reported Q3 EPS of ($0.58), $0.03 better than the analyst estimate of ($0.61). Revenue for the quarter came in at $477.1 million versus the consensus estimate of $566.7 million.

“While COVID-19 continues to have a significant impact on both the beauty industry overall as well as on our business, I am pleased that our third quarter 2020 results reflected a sequential improvement in our net sales decline versus the prior quarter. We remain diligent in managing our cost base to reduce COVID-19's impact on our profitability. During the third quarter, the Company made further progress in expanding its e-commerce business, which now represents approximately 12% of the Company’s total net sales exceeding our expectations. Also, based on the aggregate principal amount of 5.75% Senior Notes tendered into the Company’s pending Exchange Offer, the Company expects to close that transaction later this week, giving us the additional runway needed to further execute on our business strategy, including investing in the brands and markets where we have scale, and growing our e-commerce business. We would like to thank all of our stakeholders for their support during the transaction. While we still have challenges to face – namely the ongoing impact of the COVID-19 pandemic – we believe we have the right long-term strategy in place and will continue to execute against it,” said Debra Perelman, Revlon's President and Chief Executive Officer.

For earnings history and earnings-related data on Revlon (REV) click here.

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