Traders Cheering Alberto-Culver's (ACV) Q2 Results Despite Earnings Miss
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Alberto-Culver Co. (NYSE: ACV) said Monday that its quarterly profit rose 7.3 percent, bolstered by strong demand for the beauty care products maker’s products overseas.
The maker of TRESemme, Alberto VO5, and St. Ives reported first quarter earnings of $30.1 million, or 30 cents per share, up from the $28.1 million or 28 cents per share in the quarter last year. Compared to analyst estimates, Alberto-Culver missed the market consensus of 36 cents per share.
Revenue rose nearly 12 percent from $344.3 million in Q209 to $384.8 million during the most recent quarter, also beating the Street consensus estimate of $384.41 million.
"The strength of our brands, led by TRESemme, has enabled us to continue to show positive momentum and generate especially strong growth in our international markets,” Alberto Culver President and Chief Executive Officer V. James Marino said. “While we have made solid progress in restoring customer service levels, particularly in March, we expect some of the disruptions to continue into the current quarter."
The company said that its sales in the U.S. fell 1.7 percent due to lower than normal customer service levels caused by disruptions in manufacturing, supply chain and systems. International sales, meanwhile, spiked sharply by 38 percent, but the majority of the increase was a result of acquisitions/divestitures and currency fluctuations.
With about two hours left in today's trading session, shares of Alberto-Culver are up 2.3% to $28.65.
The maker of TRESemme, Alberto VO5, and St. Ives reported first quarter earnings of $30.1 million, or 30 cents per share, up from the $28.1 million or 28 cents per share in the quarter last year. Compared to analyst estimates, Alberto-Culver missed the market consensus of 36 cents per share.
Revenue rose nearly 12 percent from $344.3 million in Q209 to $384.8 million during the most recent quarter, also beating the Street consensus estimate of $384.41 million.
"The strength of our brands, led by TRESemme, has enabled us to continue to show positive momentum and generate especially strong growth in our international markets,” Alberto Culver President and Chief Executive Officer V. James Marino said. “While we have made solid progress in restoring customer service levels, particularly in March, we expect some of the disruptions to continue into the current quarter."
The company said that its sales in the U.S. fell 1.7 percent due to lower than normal customer service levels caused by disruptions in manufacturing, supply chain and systems. International sales, meanwhile, spiked sharply by 38 percent, but the majority of the increase was a result of acquisitions/divestitures and currency fluctuations.
With about two hours left in today's trading session, shares of Alberto-Culver are up 2.3% to $28.65.
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