Coty beats Q4 revenue estimates, losses widen

Coty has beaten revenue estimates in the fourth quarter of the year as the beauty industry remained resilient against rising inflation.

In the three months to June 30, net revenue increased 10 percent year-over-year to 1.17 billion dollars, ahead of analysts’ estimates of 1.14 billion dollars, according to data from Refinitiv.

On a like-for-like basis, revenue increased 10 percent in the quarter.

The US beauty giant reported a widening loss of 284.8 million dollars compared to a loss of 210.2 million dollars a year earlier.

For the full-year, Coty made net revenue of 5.3 billion dollars, up 15 percent from a year earlier, or up 16 percent on a like-for-like basis.

For the year, the company swung to a profit of 61.2 million dollars from a loss of 303.6 million dollars a year earlier.

Looking ahead, Coty expects full-year adjusted EBITDA of between 955 million dollars and 965 million dollars, and adjusted earnings per share growth in the mid-teens.