Victoria L. Dolan
Thank good you, afternoon call. everyone on Debbie to and the
external strategy us Revlon's to manage reiterate Before I financial through and to a our QX environment. details share of helps I'd volatile the supports long-term ambition results, XXXX which like our
second, are ensure both First, capital to managing context our the of focused to on circumstances And all goal agility given sheet. balance P&L to our adapt is Debbie our lines liquidity growth with earlier, market the to described sufficient we ever-changing support and structure. across and the
order core brands strengthen the in in and Our to choices market. focused on align investments priorities ultimately business is disciplined the our investment iconic our posture to smart and making
which against These posture. RGGA on COVID-XX, to impact and continue program, strategies example we chain Revlon in-year to industries. challenges most have estimated businesses across emerging track allowed savings, through investment deliver one its is that our supply remains are to disruptions, other navigate of how Our macroeconomic executing
details, to Before the segment first summarize I I'd quarter Revlon's a into like get results basis. on consolidated
of $XXX As-reported quarter net in of the sales during million compared million X%. first $XXX were period, million the or an $XX year to prior XXXX increase
the in higher period. the was net in improvement the compared higher and in a income. as-reported of in lower higher prior Adjusted income first higher EBITDA operating adjusted quarter million prior XXXX of was $XX quarter administrative versus million margin sales; million improvement an gross primarily quarter as-reported in million million loss operating to the the income of charges. Adjusted operating an primarily expenses, to and the of $X increased income $X operating $XX million. EBITDA net XXXX driven basis was year of by by and year sales selling, million points; during As-reported $XX operating restructuring period. The $XX million SG&A; The to period, XXX driven compared XXXX first $XX of was as-reported by in year lower prior million $XX $XX first higher general
driven year the $XX quarter million of higher income the loss was million over net period period. period. was XXXX million lower higher over currency primarily million by a partially net the by prior loss versus the first The prior interest higher year $X of offset of loss $XX expense in foreign operating net prior As-reported in year losses and $X
currency expenses. $XXX was to XXXX increase constant million, to compared basis was net care were year international of net turn X% This to and products net increase sales, brand net in on improvement of the Green our in the and a to retail partially continuing prior signs regions cosmetics like of to in million higher or and the sales net in of a XXXX regions largely higher net Revlon sales North hair a million, a Revlon of Revlon extent, mass by segment increase to due lesser sales would prior margin, driven $XX channel ColorSilk show North sales profit the period. fragrances of segment's lower in on This of primarily was increase America. of higher The offset professional currency period. from restrictions first year increase XXX% basis Arden to quarter with sales I period. a Next, pandemic expenses in results. lower SG&A $XX of Elizabeth segment million sales higher pandemic. increased of the offset Revlon-branded primarily international related other $XX the growth COVID-XX $X net COVID-XX Tea year the segment White by Ceramide of compared lifting to in was segment to activity a in compared net partially America connection increase net lesser first segment's on and Revlon sales or the prior during The profit or quarter as other million as constant primarily driven were the approximately million, by ongoing higher well gross North the by color XXXX ongoing higher XX% effects $XXX salons' driven a higher the extent, sales constant first basis by net segment's support of sales America. fragrances a Elizabeth quarter Revlon higher to currency and was Tea Arden-branded
well on expenses. the ongoing currency net a of retail profit pandemic from COVID-XX to segment's mainly XXXX of increase, was basis Arden net of period. offset of America; sales prior Mitchum in sales that period. $X international as profit XXXX were as of North margin North the a e-commerce driven in primarily net of and increase higher business. the outlets. gross net higher constant higher Fragrances expenses. of million, $XX This Fragrances or a of in $X net XXXX sales of compared a million Fragrances pandemic regions; certain Elizabeth as signs higher continued international stores nail I an segment's $XX net connection Additionally, quarter in channels partially year America. by North The COVID-XX Varvatos the a the higher was in regions was year quarter growth net support other increase increase the was the was sales decrease net travel year the X% or of profit brand $XX million, and higher a was million million on in were compared XX% in segment's or lower primarily sales offset margin. driven segment's during America from compared in net $X sales sales gross continuing by sales due gross regions the show net of on segment was prior or lesser XXXX constant sales the the retail ongoing increase prior Cutex, the in regional the margin increase currency Portfolio primarily net business million the net the segment brands, higher first over as period. brand currency was extent, and of retail travel increase a to other was Portfolio local certain in well during the as basis retail offset Couture, offset the other XXXX or This and in quarter constant million, increase to in compared higher North prior basis XX% signs million, basis year $X the to on cosmetics period. primarily due This on and first million the at sales effects partially to to prior higher fragrance John color sales sales increase Portfolio constant Arden and $X year first driven the and million, of primarily net higher as increase international driven SG&A increase a higher both pandemic. improvement department improvement mentioned net driven currency currency and higher both first region; SG&A XX% sales well net ongoing This This from sales basis segment's Portfolio and other support regions during support traffic sales constant $XX and by to Fragrances decrease foot licensed the partially Spears was Elizabeth products The partially both regions. deodorant recovery brands, profit of $X the in international quarter by was of largely a higher in and first to the COVID-XX segment Britney a international Juicy The effects segment the by in segment's and of and America. profit segment primarily period. higher was Almay on by international XX% with and segment by quarter brand CND antiperspirant by a by profit
to liquidity. now Turning
As $XXX equivalents unrestricted million consisting liquidity numbers as float under of million had updates $XX corporation's include of approximately and of March of less facility, as the million. XXXX, revolving previously company available $XX credit $X cash product XX, the borrowing well million in These available approximately capacity liquidity, cash amended disclosed. XXXX as of
certain base X, made increasing XXXX. has Consumer establishes The changes amount Products temporarily the amended amendment, reserve million $XX availability $XX its September up against XX, thereafter. until XX, base. by credit XX, the borrowing also calculation under The dated asset-based other in the the September amendment million of million XXXX, as to among to facility the and agreement until revolving Corporation on of June things, of of borrowing a The XXXX. $XX effect amendment the First, Revlon March XXXX,
after on one credit changes amendment, X, addition, among the the of amended had XXXX, March XX, The things, certain LLC to Finance dated of increasing borrowing of for amendment. the that made the its base loan term date as temporarily March effective Revlon of in the Second, other calculation base effect borrowing year asset-based the XXXX. agreement
disclosed, increase sell up $XX XXXX, the of and price previously time announced lower of as-reported common prior $X XXXX the use the Free cash XX, A to year capital net free on million with flow company primarily million. cash we an stock million of offering loss which driven our a favorable in and was of April may shares compared through The ATM as cash of offer first Class changes. was a to a in flow quarter to aggregate of in time an source working offering Finally, $XX period. from by
quarter of operating chain on the spent XXXX our summary, commercial our quarter $X business environment, of particularly including reflect capital displays. the given company by and the million, volatile first In headwinds permanent strength expenditures strategy, During $X and challenges. XXXX, first our were million supply external created results a the
the results deliver on in to remain we I'll beyond. Importantly, closing Debbie over to focused agility singularly call operating with XXXX and commercial and for hand now financial comments.
