During Tuesday’s Morning trade, Shares of Avon Products Inc. (NYSE:AVP), gained 0.85% to $5.90.
Avon Products stated second-quarter 2015 results. “Our overall second-quarter performance was in line with our expectations in an environment of extraordinary currency pressure. Market by market, our local teams are operating effectively as they address consumer demands, improve Representative engagement and manage cost,” said Sheri McCoy, Chief Executive Officer of Avon Products, Inc. “In addition, given that we anticipate the challenging environment to continue, we have taken steps to improve our financial flexibility.”
Second-Quarter 2015 Income Statement Review (contrast with second-quarter 2014)
- Total revenue for Avon Products, Inc. reduced 17% to $1.8 billion, but was relatively unchanged in constant dollars. Constant-dollar revenue benefited from growth in Europe, Middle East & Africa, in addition to Latin America, due to markets experiencing high inflation (Venezuela and Argentina), partially offset by a decline in North America.
- Active Representatives were down 2% year over year, led by a continued decline in North America, partially offset by growth in Europe, Middle East & Africa, most significantly Russia. Average order raised 2%, which benefited from price enhances in markets experiencing high inflation.
- Total units reduced 4%, driven by declines in Latin America and North America. Price/mix was up 4% during the quarter, aided by pricing in markets experiencing high inflation in addition to improved price/mix in Brazil.
- Beauty sales declined 17%, but raised 1% in constant dollars. Fashion & Home sales declined 14%, or were relatively unchanged in constant dollars.
Avon Products, Inc. manufactures and markets beauty and related products worldwide. It offers beauty products, such as skincare, and personal care products, in addition to fragrances and color cosmetics; and fashion and home products comprising of jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products, and nutritional products.
Shares of Berry Plastics Group, Inc. (NYSE:BERY), inclined 4.66% to $30.75, during its current trading session.
Berry Plastics Group stated results for its third fiscal 2015 quarter, referred to in the following as the June 2015 quarter:
- Raised cash flow from operations by 50 percent to $180 million in the June 2015 quarter contrast to $120 million in the same preceding year quarter
- Recorded net loss per diluted share of $0.11 and adjusted net income per diluted share of $0.51 for the June 2015 quarter
- Raised operating EBITDA to $219 million (17.6 percent margin) for the June 2015 quarter contrast to $212 million (16.3 percent margin) in the same preceding year quarter
- Improved adjusted free cash flow by $74 million to $140 million for the June 2015 quarter contrast to $66 million in the same preceding year quarter
- Generated adjusted free cash flow of $378 million and adjusted EBITDA of $830 million for the four quarters ended June 2015
- Raised fiscal 2015 adjusted free cash flow guidance to $400 million.
Berry Plastics Group, Inc. manufactures and distributes plastic consumer packaging and engineered materials in North America and internationally. The company operates through four segments: Rigid Open Top, Rigid Closed Top, Engineered Materials, and Flexible Packaging.
Finally, Nationstar Mortgage Holdings Inc. (NYSE:NSM), gained 1.24%, and is now trading at $19.58.
Nationstar Mortgage Holdings stated financial results for its second quarter ended June 30, 2015.
Nationstar stated quarterly net income of $75 million, or $0.69 per share, for the second quarter, contrast to net loss of ($48) million, or ($0.53) per share, in the first quarter 2015. Adjusted earnings for the second quarter were $35 million or $0.32 per share, up 57% contrast to the preceding quarter. The second quarter results comprise $52 million or $0.47 per share of after tax benefits resulting from the net enhance in value associated with mortgage servicing rights and related liabilities accounted for at fair value and $10 million of after tax expense or $0.10 per share principally related to streamlining operations, counting severance.
Notably, adjusted pretax income for the servicing segment raised $16 million sequentially as a result of raised incentive fees due to continued strong operational performance and higher base servicing fees given the larger servicing portfolio. Originations delivered another strong quarter of adjusted pretax income of $59 million driven by the favorable rate environment and focused execution. Xome achieved continual top line growth of $14 million sequentially, driven principally by an enhance in property sales.
Nationstar Mortgage Holdings Inc. provides servicing, origination, and transaction based services to single-family residences in the United States. It operates in three segments: Servicing, Originations, and Solutionstar.
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