Coty Raises FY23 Revenue Outlook at Bank of America Consumer & Retail Conference

Rhea-AI Summary

Coty (NYSE: COTY) announced that CFO Laurent Mercier will present at the 2023 Bank of America Consumer & Retail Conference on March 15 at 8:00 A.M. EST. The company reported a fiscal Q3 core like-for-like sales growth of +10%, up from +7% in Q2. As a result, Coty expects FY23 core LFL sales growth to reach the upper end of its previous forecast of 6-8%. The company reiterated its FY23 outlook, including guidance on adjusted gross margin, EBITDA, and EPS, while planning to reinvest profits into skincare initiatives and recent product launches.

Positive

• Fiscal Q3 core LFL sales growth at +10%, up from +7% in Q2.
• FY23 core LFL sales growth expected to reach upper end of 6-8% guidance.
• Reinvestment of incremental profit into key skincare initiatives and new launches.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Coty (NYSE: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, is pleased to confirm that Chief Financial Officer Laurent Mercier will present at the 2023 Bank of America Consumer & Retail Conference on Wednesday, March 15 at 8:00 A.M. EST or 1:00 P.M. CET.

Coty will provide perspectives on the current beauty market, its financial progress and future growth opportunities. Coty will share that its fiscal Q3 core LFL sales growth is tracking at +10%, reflecting an acceleration from the +7% core LFL sales growth in Q2. As a result, Coty now expects its FY23 core LFL sales growth to be at the upper end of its prior guidance of 6-8% core LFL sales growth. Coty will reiterate its FY23 outlook, including its adjusted gross margin, adjusted EBITDA and adjusted EPS guidance, as the company intends to reinvest incremental profit into its critical skincare initiatives and recent launches.

The presentation accompanying management's remarks will be available on Coty’s Investor Relations website, under Events and Presentations. A live webcast of the presentation will begin at 8:00 A.M. EST and a replay of Coty’s remarks will be available at investors.coty.com/news-events-and-presentations.

About Coty Inc.

Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Coty serves consumers around the world, selling prestige and mass market products in more than 130 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to making a positive impact on the planet. Learn more at coty.com or on LinkedIn and Instagram.

Cautionary Note Regarding Forward-looking Statements

The statements contained in this press release include certain “forward-looking statements” within the meaning of the securities laws. These forward-looking statements reflect Coty’s current views with respect to, among other things, its outlook, expected guidance, trends and strategic information. These forward-looking statements are generally identified by words or phrases, such as “anticipate,” “are going to,” “estimate,” “plan,” “project,” “expect,” “believe,” “intend,” “foresee,” “forecast,” “will,” “may,” “should,” “outlook,” “continue,” “target,” “aim,” “potential” and similar words or phrases. These statements are based on certain assumptions and estimates that Coty considers reasonable and are not guarantees of Coty’s future performance, but are subject to a number of risks and uncertainties, many of which are beyond Coty’s control, which could cause actual events or results to differ materially from such statements, including the factors identified in “Risk Factors” included in Coty’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022 and its subsequent quarterly reports on Form 10-Q. All forward-looking statements made in this press release are qualified by these cautionary statements. These forward-looking statements are made only as of the date of this press release, and Coty does not undertake any obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise.

Coty provides guidance only on a non-GAAP basis and does not provide reconciliations of such forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including adjustments that could be made for restructuring, integration and acquisition-related expenses, amortization expenses, adjustments to inventory, and other charges reflected in our reconciliation of historic numbers, the amount of which, based on historical experience, could be significant.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230315005262/en/

Investor Relations

Olga Levinzon

+1 212 389-7733

olga_levinzon@cotyinc.com

Media

Antonia Werther

+31 621 394495

Antonia_Werther@cotyinc.com

Source: Coty

FAQ

What are Coty's fiscal Q3 results for 2023?

Coty reported a fiscal Q3 core like-for-like sales growth of +10%, up from +7% in Q2.

What is Coty’s sales growth outlook for FY23?

Coty expects its FY23 core like-for-like sales growth to be at the upper end of its prior guidance of 6-8%.

When is Coty’s presentation at the Bank of America Consumer & Retail Conference?

Coty’s CFO will present on March 15, 2023, at 8:00 A.M. EST.

What does Coty plan to do with its incremental profit?

Coty plans to reinvest incremental profit into critical skincare initiatives and recent launches.