Inter Parfums (IPAR) Tops Q4 EPS by 10c; Raises Outlook

March 1, 2021 4:10 PM EST

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Inter Parfums (NASDAQ: IPAR) reported Q4 EPS of $0.47, $0.10 better than the analyst estimate of $0.37. Revenue for the quarter came in at $184 million versus the consensus estimate of $175.82 million.

Jean Madar, Chairman & CEO of Inter Parfums stated, “As we’ve reported in January, we ended the year with a surprisingly strong fourth quarter, in fact our best ever fourth quarter ever in terms of sales. Our largest European brands Montblanc, Jimmy Choo, and Coach achieved comparable quarter sales growth of 9.8%, 13.4%, and 18.0%, respectively, all the more gratifying in that no new products were launched in that period. We are also very pleased by the preliminary sales of Anna Sui Sky, which began to rollout in the final quarter of 2020, contributing to that brand’s 62.3% increase in fourth quarter sales.”

He continued, “Throughout the past year, the COVID-19 pandemic and its repercussions broadly and negatively impacted sales in all regions, with the steepest year-over-year sales declines in two of our smaller markets, the Middle East and Eastern Europe, down 35.5% and 40.0%, respectively. Our two largest markets, North America and Western Europe, had far more modest sales declines of 17.8% and 20.7%, respectively. Much of the 28.2% sales decline in Asia was attributable to the dramatic reduction in air travel, and corresponding impact on the travel retail business.”

GUIDANCE:

Inter Parfums sees FY2021 EPS of $1.40-$1.45, versus the consensus of $1.39.

For earnings history and earnings-related data on Inter Parfums (IPAR) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Guidance

Related Entities

Earnings