earnings
confidence high
sentiment positive
materiality 0.80
Coty Q1 LFL sales +9% beats upwardly revised guidance; EBITDA +11%, FY23 outlook reaffirmed
COTY INC.
2023-Q1 EPS reported
$0.15
revenue$1,390,000,000
- Q1 LFL sales +9% (exceeded upwardly revised +8-9% guidance); sell-out low double digits Prestige, mid-high single digits Consumer Beauty.
- Adj. EBITDA $307.9M (+11% YoY); adj. operating income $249.6M (+24%); margin expanded 340bps to 18.0%.
- Reported EPS $0.15; adj. EPS $0.11 vs $0.08 prior, reflecting $0.04 negative mark-to-market on equity swap.
- Financial net debt $4.2B; leverage <4.5x, on track to ~4x exiting CY22; free cash flow $88.2M in Q1.
- FY23 outlook: adj. EBITDA $955-965M, adj. EPS $0.32-0.33, core LFL growth 6-8%, FX headwind 6-8% on sales.