Revlon, the renowned cosmetics company headquartered in New York, has recently announced a remarkable increase in net sales for the first quarter, resulting in a record-breaking operating income for the three-month period ending on March 31. The company reported that net sales for the first quarter reached $479.6 million, a significant leap from $445 million in the same quarter of the previous year. Revlon sales notably increased by 12.4% to $182.1 million, while Elizabeth Arden revenues experienced a moderate growth of 2.4% to $114.9 million during the January-March quarter. The portfolio segment, which includes popular brands like lmay, Sinful Colors, and American Crew, saw a 3.3% increase in net sales, reaching $99.2 million. Moreover, the fragrance segment witnessed an impressive surge of 11.5%, totaling $83.4 million in sales for the quarter.

Furthermore, Revlon achieved a significant milestone in terms of profitability, as the company reported its highest operating income for a first quarter in six years, recording a staggering $23.7 million, compared to an operating loss of $12.7 million in the prior year. The adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) also exhibited substantial improvement, with $58.4 million in the current period, compared to $38.2 million in the same period last year. Despite these accomplishments, Revlon still experienced a net loss of $67 million for the first three months, although this reflects an improvement from the $96 million loss incurred during the same period in the previous year.

Debra Perelman, the president and chief executive officer of Revlon, expressed her satisfaction with the company’s first-quarter results, even in the face of ongoing supply chain challenges. She highlighted the growth witnessed across all reporting segments and celebrated the achievement of the best Q1 adjusted EBITDA in six years. Perelman emphasized Revlon’s commitment to its strategic plan, which revolves around focusing on core, iconic brands in key markets, as well as accelerating digital efforts to drive long-term sustainable growth while ensuring profitability and managing liquidity. She affirmed that the company continues to adapt its business strategies to navigate the uncertainties in the macroeconomic landscape.

Useful Links:
1. Revlon Official Website
2. Elizabeth Arden Official Website