Revlon (NYSE: REV ) stock was hit hard on Thursday following the release of a poor earnings report for the second quarter of 2018.
Revlon's earnings report for the second quarter of the year includes losses per share of $1.54. This is worse off than the company's losses per share of 46 cents from the same time last year. It was also a blow to REV stock by coming in well below Wall Street's losses per share estimate of 27 cents for the quarter.
Revlon also reported a net loss of $122.50 million for the second quarter of 2018. This is a wider net loss than the $36.50 million that was reported in the second quarter of the previous year.
During the second quarter of the year, Revlon reported an operating loss of $58.00 million. The maker of cosmetics and personal care products reported operating income of $5.20 million in the same period of the year prior.
Revlon's revenue of $606.80 million for the second quarter of 2018 also didn't do REV stock any favors today. First off, it's a drop from the company's revenue of $645.70 million reported in the second quarter of 2017. Secondly, it was unable to reach analysts' revenue estimate of $637.30 million for the period.
Performance from Revlon's flagship brands was partially responsible for the revenue decline during the quarter. The segment was down nearly 11% from the same time last year. REV also saw a 15% drop in revenue from its Fragrances segment in the second quarter of the year.
REV stock was down 6% as of Thursday afternoon and is down 27% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.