Coty (NYSE: COTY) Fiscal 2Q19 Results: Revenues Down But Luxury Beauty Up; Beats Analysts’ Estimates
- Coty fiscal 2Q19 revenues were $2.51 billion, down 4.8% year over year and beating the consensus estimate of $2.47 billion. Coty reported 2Q19 adjusted EPS of $0.24, up 60% from the year ago period and beating the consensus estimate of $0.22.
- Sales in the luxury division, the company’s largest division, increased 7.0% year over year, consumer beauty sales decreased 15% year over year, and professional beauty revenues decreased 4% year over year.
- The company did not provide quantitative EPS and revenue guidance for FY19. However, management said the company anticipates a profit trend recovery in the second half of FY19 and expects FY19 constant currency adjusted operating income will be moderately below FY18 and cash flow positive for FY19.
Coty fiscal 2Q19 revenues were $2.51 billion, down 4.8% year over year and beating the consensus estimate of $2.47 billion.
Login to view the full report, or register below for a free membership to access research.