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21.08.25 - 18:45
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Coty Analysts Slash Their Forecasts After Q4 Results (Benzinga)
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Latest Ratings for COTY
DateFirmActionFromTo Jan 2022Raymond JamesMaintainsOutperform Jan 2022DA DavidsonUpgradesNeutralBuy Jan 2022Morgan StanleyMaintainsEqual-Weight
View More Analyst Ratings for COTY
View the Latest Analyst Ratings
read more...
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21.08.25 - 15:36
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Coty Tanks As Fragile Turnaround Delayed On Perfume Sales Slump (ZeroHedge)
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Coty Tanks As Fragile Turnaround Delayed On Perfume Sales Slump
Coty shares crashed in premarket trading after the beauty giant warned of a deeper sales slump this quarter and posted a steeper-than-expected loss for the fourth quarter.
The beauty company, which develops, manufactures, markets, and distributes cosmetics, fragrances, and skincare products, warned that like-for-like sales, which measure revenue from existing business units, will fall between 6% and 8% this current quarter, exceeding the Bloomberg consensus estimate of a 2.6% decline.
For quarter four, Coty beat on revenue but missed on earnings, pressured by margin compression and weaker U.S. consumer beauty sales.
Here's an earnings snapshot of the previous quarter:
Earnings: Adjusted loss per share 5c, wider than last year's 3c loss and well below the 1.4c profit expected (Bloomberg consensus).
Revenue: Net revenue $1.25B, down 8.1% y/y but slightly above the $1.21B estimate.
Americas: $511.2M (-12% y/y, vs. $515M ...
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