Sales of Revlon colour cosmetics and Revlon ColorSilk hair helped to drive stronger financial results in North America
The brand said it experienced its best Q1 Adjusted EBITDA in six years
Revlon saw sales jump 7.8% to US$479.6m (£359.9m) in its first quarter results for 2022, up from $445m last year.
The American beauty brand, which reported operating losses of $12.7m (£10.2m) during the same quarter in 2021, also saw total operating income reach $23.7m this year - an improvement of $36.4m (£29.4m).
Revlon said the increase was driven primarily by higher As Reported net sales, as well as a decrease in selling, general and administrative expenses of $3.6m(£2.9m).
Reported net losses were also lower this quarter at $67m (£54.1), compared with the losses of $96m (£77.5m) in the prior-year period.
“While the supply chain challenges continue to have an impact, our first quarter results were strong on both the top and bottom line,” said Debra Perelman, Revlon's President and Chief Executive Officer.
For Revlon’s flagship segment specifically, the brand reported an $18.4m (£14.8m) increase in North America net sales for the three months ended 31 March 2022.
This was the result of higher net sales of Revlon colour cosmetics, in addition to higher net sales of Revlon ColorSilk hair colour products and Revlon-branded beauty tools.
Adjusted EBITDA in the first quarter of 2022 was $58.4m (£47.2m), versus $38.2m (£30.8m) in 2021, which Revlon stated has been the best results for the category in six years.
“Revlon is executing against our well-established strategic plan of focusing on our core, iconic brands in key markets as well as our digital acceleration to drive long-term, sustainable growth – while protecting profitability and managing our liquidity,” Perelman added.
“We continue to manage our business dynamically as we navigate ongoing macroeconomic uncertainty.”