Welcome to our dedicated page for REV news (Ticker: REV), a resource for investors and traders seeking the latest updates and insights on REV stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect REV's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of REV's position in the market.
Revlon, Inc. announced its financial results for Q4 2022, reporting net sales of $589.8 million, down 4.1% from the previous year. The company faced a net loss of $178.5 million, driven by $172.7 million in Chapter 11-related charges. Operating income rose to $72.8 million, attributed to reduced selling and administrative expenses. For the full year, net sales dropped to $1.98 billion, with a substantial net loss of $673.9 million, impacted by reorganization expenses and higher tax provisions. Revlon is expected to emerge from Chapter 11 soon, significantly reducing its debt and capitalizing with new investments.
Revlon reported financial results for Q3 2022, revealing a 10.1% decline in net sales to $468.4 million, largely due to adverse foreign exchange impacts. The company also experienced a significant 62.2% decrease in operating income, resulting in a net loss of $152.8 million, compared to a loss of $53.1 million the previous year. The firm continues to navigate Chapter 11 restructuring, having secured $575 million in debtor-in-possession financing. As of September 30, 2022, liquidity totaled $273.4 million.
Revlon, Inc. (NYSE: REV) announced that its appeal against the NYSE Staff's decision to delist its Class A common stock has been rejected. This follows the Chapter 11 filing on June 15, 2022. The NYSE has suspended trading in Revlon’s Class A stock, which is expected to be delisted and trade on the OTC marketplace/pink sheets soon. Investors can find more information about the Chapter 11 process on the company's restructuring website.
American Crew has announced an expansion of David Raccuglia's role to Creative Director and Global Head of Education. Raccuglia, founder of American Crew, will oversee the brand's creative direction and education globally while remaining the brand's key photographer. He aims to innovate within the men’s grooming sector, which he helped establish almost 30 years ago. The brand, now under Revlon, boasts a comprehensive portfolio of premium grooming products available in over 30,000 locations worldwide.
Revlon, Inc. (NYSE: REV) announces the retirement of Chief Financial Officer Victoria Dolan, effective September 30, 2022. Matt Kvarda, Managing Director at Alvarez & Marsal, will serve as interim CFO starting October 1. CEO Debra Perelman expressed gratitude for Dolan's contributions and optimism for Kvarda's role in the company's restructuring process. Kvarda brings nearly 30 years of experience and has held interim CFO positions at multiple companies, including TEAM, Inc. (NYSE: TISI).
Revlon, Inc. (NYSE: REV) announced its Q2 2022 financial results, revealing a net sales decline of 11.0% to $442.6 million compared to $497.4 million the previous year. The company reported a net loss of $275.6 million, significantly higher than the prior year's loss of $67.7 million, driven by Chapter 11 bankruptcy-related costs and operational challenges. Gross profit decreased by 16.6%, with a gross margin drop of 370 basis points. The firm initiated voluntary Chapter 11 proceedings on June 15, 2022, supported by $575 million in debtor-in-possession financing to aid restructuring efforts.
Origin Materials (NASDAQ: ORGN, ORGNW) and Revlon (NYSE: REV) have announced a partnership to develop sustainable carbon negative materials for cosmetics packaging. This initiative aims to reserve commercial volumes of Origin PET to enhance Revlon's Responsible Sourcing sustainability goals. The collaboration will focus on accelerating the commercialization of innovative materials while addressing the challenges of the global supply chain. The partnership is expected to provide consumers with access to eco-friendly packaging.
Revlon, Inc. (NYSE: REV) has voluntarily filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York. This decision aims to restructure the company’s capital and address liquidity issues stemming from global supply chain challenges and inflation. Upon court approval, Revlon expects to receive
Revlon, Inc. reported a strong financial performance for Q1 2022, with net sales reaching $479.6 million, a 7.8% increase from the previous year. Operating income improved to $23.7 million, compared to a loss of $12.7 million in Q1 2021. Adjusted EBITDA grew to $58.4 million, up from $38.2 million. However, Revlon also recorded a net loss of $67.0 million, although less than the prior year's $96.0 million. The company emphasized its strategic focus on core brands and cost control amidst ongoing supply chain challenges, while total liquidity stood at $132.1 million.
Revlon, Inc. (NYSE: REV) announced it will release its first quarter 2022 financial results on May 4, 2022, followed by a conference call at 5:30 P.M. NYC time. Investors can join the earnings call by dialing specific numbers based on their location or through a webcast available on Revlon's Investor Relations website. Revlon is a leading global beauty company known for its innovative products, with a diversified portfolio sold in 150 countries.
