Coty Q4 Results: 16% Revenue Growth, Margin Expansion, FY24 Outlook & More
Portfolio Pulse from Nabaparna Bhattacharya
Coty Inc. reported Q4 FY23 sales growth of 16% YoY to $1.35 billion, beating the consensus of $1.31 billion. Adjusted EPS was $0.01, missing the analyst consensus of $0.02. The company's sales were driven by robust global demand across categories, geographies, and channels. Coty also divested a 3.6% stake in Wella Brand for $150M. The company targets total FY24 adjusted EPS, excluding equity swap, of $0.44-$0.47, implying 16%-25% YoY growth. Coty shares are trading lower by 0.64% at $10.90 in premarket on the last check Tuesday.
August 22, 2023 | 11:36 am
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Coty Inc. reported strong Q4 FY23 sales growth but missed on adjusted EPS. The company also divested a stake in Wella Brand and provided a positive outlook for FY24. However, shares are trading lower in premarket.
Coty's strong sales growth and positive outlook for FY24 indicate a robust business performance. However, the miss on adjusted EPS and the divestment of a stake in Wella Brand may have contributed to the negative price action. The company's future performance will depend on its ability to maintain sales growth and improve profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100