Coty (COTY) Tops Q2 EPS by 5c; offers guidance

Coty (NYSE: COTY) reported Q2 EPS of $0.25, $0.05 better than the analyst estimate of $0.20. Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.67 billion.

GUIDANCE:

Coty sees FY2024 EPS of $0.44-$0.47 versus consensus of $0.42.

The Company continues to expect FY24 LFL revenue growth of +9-11%, which includes expectations for +6-8% LFL revenue growth in second half FY24, consistent with its medium term growth algorithm, despite facing an estimated low-to-mid single-digit percentage headwind in its Prestige business from retailer inventory restocking which occurred in the prior year as Coty\'s fragrance service levels recovered. Reported revenues in the second half are expected to include a 1-2% headwind from FX and an approximately 2% scope headwind from the divestiture of the Lacoste license.

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

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