This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dial, Avon Post Solid Results

Dial (DL - Get Report) and Avon (AVP - Get Report) posted a jump in earnings Wednesday, as Americans snapped up personal products in the second quarter.

Sales of liquid hand soap and food products helped Dial post a net profit of $35.5 million, or 37 cents a share, better than analysts' estimates, and up from $33.4 million, or 35 cents a share, a year earlier.

"Overall, we achieved favorable results for the second quarter in a challenging economic and retail environment," said Herbert M. Baum, the company's chairman, president and chief executive.

The company also raised its outlook for full-year 2003 earnings by 2 cents a share to $1.33, while revenue growth is expected to be around 3% this year.

Separately, Avon said its earnings exceeded the company's forecast, with the help of a weaker dollar, lower tax expenses, growth in product sales and a larger team of salespeople.

The cosmetics merchant posted earnings of $171.5 million, or 71 cents a share, up from $155 million, or 64 cents a share, in the year-ago period. Analysts had expected Avon to post a profit of 69 cents a share. Net revenue rose 8% to $1.64 billion in the quarter.

Avon forecast 2003 earnings of $2.65 a share, above analysts' projections of $2.57 a share. But third-quarter profit is expected to fall slightly short of Wall Street estimates of 55 cents a share.

Chairwoman and CEO Andrea Jung said that "2003 is shaping up as our fourth consecutive year of meeting or exceeding our financial targets." She added, "Our operations around the world continue to perform very well ... based on strong fundamentals of our business."

After reacting positively to the news early Wednesday, shares of both companies were losing ground amid weakness in the broader market. Dial shares were down 25 cents, or 1.3%, at $19.06, while Avon shares were down 15 cents, or 0.2%, at $63.55.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AVP $3.23 0.00%
DL $11.19 0.00%
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs