Revlon, Inc. Provides Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2017; Provides Goodwill Impairment for the Fourth Quarter Ended December 31, 2017
Full year 2017 net sales are estimated to be approximately $2.7 billion, compared to $2.3 billion in 2016. Full year 2017 net loss is estimated to be in the range of approximately $165 million to $185 million, compared to $21.9 million in 2016. The 2017 net loss includes the expected impact of a significant non-cash charge related to the recently enacted Tax Cuts and Jobs Act (Tax Reform) and an approximate $11 million projected non-cash goodwill impairment charge, on both a pre-tax and after-tax basis, recognized in the fourth quarter of 2017 relating to the Company's Global Color Brands reporting unit. Full year 2017 Adjusted EBITDA is expected to be approximately $260 million, compared to $415 million in 2016. The Company delivered strong results on the Elizabeth Arden Integration Program, realizing approximately $70 million of synergies and cost reductions in 2017. The company expects Interest expense and amortization of debt issuance costs of $158.9 million and loss from continuing operations, net of taxes of $167.3 million to $187.3 million.