This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dial, Avon Post Solid Results

Dial (DL) and Avon (AVP) 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.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs