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Why Revlon Shares Are Plunging Today

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Revlon (NYSE: REV ) stock was hit hard on Thursday following the release of a poor earnings report for the second quarter of 2018.

Why Revlon Shares Are Plunging Today

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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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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