Revlon stock tanks after beauty company finds 'material weakness' in its controls, misses views [MarketWatch]
Revlon, Inc. New (REV)
Last revlon, inc. new earnings: 11/8 07:30 am
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Source: MarketWatch
Revlon stock tanks after beauty company finds 'material weakness' in its controls, misses views Shares of Revlon Inc. REV, +2.60% fell more than 16% in the extended session Monday after the cosmetics maker reported unaudited fourth-quarter and 2018 earnings, saying it spotted a "material weakness" in its internal controls over financial reporting for 2018. Revlon said it will file its 2018 Form 10-K no later than March 29. Financial results are not expected to change, Revlon said. The company reported a fourth-quarter net loss of $1.33 a share on sales of $742 million, compared with a loss of $1.46 a share on sales of $787 million in the fourth quarter of 2017. Analysts polled by FactSet had expected a profit of 15 cents a share on sales of $749 million for the quarter. Revlon shares ended the regular trading day 2.6% higher. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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