-
Coty Inc (NYSE:COTY) reported second-quarter FY22 sales growth of 11.5% year-on-year, to $1.58 billion, missing the analyst consensus of $1.60 billion.
- Like-For-Like (LFL) revenue increased 12% Y/Y, driven by a 12% increase in both Prestige and Consumer Beauty segments.
- Revenue in the Americas rose 9% Y/Y, EMEA increased 12%, and Asia-Pacific grew 17%.
- The gross margin expanded 570 basis points Y/Y to 64.4%, and the gross profit rose 22.3% to $1.01 billion.
- The adjusted operating margin expanded 70 basis points to 15%, and the adjusted operating income for the quarter was $236.3 million.
- Adjusted EBITDA of $311.9 million increased 10% Y/Y, resulting in an adjusted EBITDA margin of 19.8%.
- Adjusted EPS of $0.17 beat the analyst consensus of $0.11.
- Cash from operating activities totaled $449 million with a free cash flow of $408 million. The company held $562.5 million in cash and equivalents as of December 31, 2021.
- "We continue to anticipate the impact of inflation to step up in the second half of FY22, and we expect to fully offset this through a combination of mix management, pricing, and cost savings," said CEO Sue Y. Nabi.
- Outlook: Coty sees FY22 LFL sales be at the upper end of its guidance range of low-to-mid teens percentage growth.
- The company expects FY22 adjusted EBITDA of $900 million at a minimum on a constant currency basis.
- Coty raised the FY22 adjusted EPS outlook to $0.22-$0.26 (previous view $0.20-$0.24) against the consensus of $0.26.
- Price Action: COTY shares are trading higher by 2.91% at $8.83 in premarket on the last check Tuesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Coty Q2 Bottom-Line Beats Street View; Raises FY22 Adjusted EPS Outlook
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks