Coty beats Q2 expectations, raises FY23 EPS guidance to $0.35-0.36

COTY INC.

2023-Q2 EPS reported $0.42 revenue$2,913,600,000

Q2 LFL sales +4% (ex-Russia +7%); adjusted op income +11% to $261.4M.
FY23 adjusted EPS guidance raised to $0.35-0.36 (+20% YoY); EBITDA reaffirmed at $955-965M.
Savings targets increased: FY24 $90M (up from $75M), new FY25 target of $75M.
Financial leverage improved to 4.1x; targeting 3x by end CY23.
Entered equity swap to hedge ~$200M share buyback in CY25.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

COTY INC. updated its the second quarter of fiscal year 2023, ended December 31, 2022 guidance (raised).

Period: the second quarter of fiscal year 2023, ended December 31, 2022
Guidance: raised
Result: reported results

Exact text from the filing

Coty Inc. (the “Company”) issued a press release announcing its financial results for its fiscal quarter ended December 31, 2022.

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Source: SEC EDGAR

accession 0001024305-23-000008

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