Executive Summary

• Avon Products reported 1Q18adjusted EPS of $(0.02), in line with the consensus estimate. Revenues were $1.39 billion, up 4.5% year over year and beating the consensus estimate of $1.36 billion.
• The Europe, Middle East and Africa business grew the fastest during the quarter, at 12%.
• Consensus estimates call for FY18 revenues of $5.79 billion and EPS of $0.17, compared with revenues of $5.72 billion and EPS of $0.06 in the prior year.