Coty Inc. COTY reported its fourth-quarter and fiscal-year results Tuesday after the closing bell. Here's a look at the details from the report.
The Details: Coty reported quarterly losses of 3 cents per share, which missed the analyst consensus estimate of earnings of 4 cents per share. Quarterly sales came in at $1.36 billion, below the analyst consensus estimate of $1.38 billion.
The company reported fiscal-year earnings of 37 cents per share, which missed the analyst consensus estimate of 44 cents by 15.91% and fiscal-year sales of $6.12 billion also missed the consensus estimate.
Coty said Prestige net revenues grew 13% in fiscal year 2024, fueled by growth in fragrances, cosmetics and skincare. Consumer Beauty revenues increased by 6% for the year with growth in color cosmetics, mass fragrances and mass skin and body care.
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“Our FY24 results set a new milestone in Coty’s sustained track record of top-notch execution and market outperformance. In a dynamic macroeconomic backdrop, beauty maintains its privileged position, being neither a consumer goods industry nor a luxury goods industry. Instead, beauty is at the sweet-spot of desire, well-being, self-confidence, affordability, ritual, indulgence, and many new things that we and our consumers will invent," said Sue Nabi, Coty’s CEO.
Outlook: Coty sees free cash flow growth to the low to mid $400 million range for fiscal year 2025 and earnings per share in a range of 54 cents to 57 cents, versus the 44-cent estimate.
COTY Price Action: According to Benzinga Pro, Coty shares are up 0.21% after-hours at $9.55 at the time of publication Tuesday.
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Image: Courtesy of Coty, Inc.
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