Coty, Inc. (COTY) Tops Q2 EPS by 3c

Coty, Inc. (NYSE: COTY) reported Q2 EPS of $0.38, $0.03 better than the analyst estimate of $0.35. Revenue for the quarter came in at $1.21 billion versus the consensus estimate of $1.2 billion.

Outlook for Fiscal 2016 Full Year

The Company remains focused on growing its power brands around the world through innovation, strong support levels and improved “in-market” execution. Coty remains focused on cost optimization opportunities to improve profitability and to provide for investment in its power brands.

Other noteworthy company developments:

• On January 27th, the Company announced the signing of the Tiffany fragrance license, further strengthening its prestige fragrance portfolio.
• On February 1st, the Company announced the completion of the Hypermarcas beauty and personal care business acquisition, significantly strengthening its presence and infrastructure in Brazil.
• The Company completed its $700 million share repurchase program, repurchasing a total of 24.9 million shares.
• The Company announced the Board authorization of an incremental $500 million share repurchase program for its Class A shares.
• The Company received antitrust approval for the merger with the P&G Specialty Beauty Business from the U.S., and other countries.

For earnings history and earnings-related data on Coty, Inc. (COTY) click here.

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