secwatch.observer — SEC 8-K summary
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Issuer:     COTY INC. (COTY)
CIK:        0001024305
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001024305-23-000057
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coty beats FY23 with 12% core LFL growth; FY24 guidance at top of target range
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- Q4 net revenue +16% as reported (+17% LFL); FY23 core LFL sales grew 12%, above 9-10% guidance.
- FY23 adjusted EBITDA $972.8M, ahead of raised guidance of $965-970M; adjusted EPS $0.53, +89% YoY.
- FY24 expects core LFL growth at top of 6-8% range; adjusted EBITDA target $1,065-1,075M; adjusted EPS $0.44-0.47.
- Signed LOI to sell 3.6% of Wella stake to IGF Wealth Management for $150M, part of deleveraging plan.
- Leverage improved to 4.1x at Q4 end; targeting ~3x exiting CY23 and ~2.5x exiting CY24.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1024305/000102430523000057/0001024305-23-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1024305/000102430523000057/coty-20230822.htm
  HTML page:      https://secwatch.observer/filing/0001024305-23-000057

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