Overview
- Coty, which reinstated its 2026 adjusted EPS target on Tuesday, guided to 33 to 35 cents per share, topping the 27-cent LSEG consensus.
- The company said its assessment of the consumer beauty portfolio is close to complete and could lead to brand sales, with CoverGirl and Rimmel flagged in prior disclosures.
- For the quarter ended March 31, revenue reached $1.28 billion as like-for-like sales fell 7 percent, and the company reported an adjusted loss of 3 cents per share.
- Management said the Middle East trimmed third-quarter sales by an estimated 1.4 percent and expects a 2 to 3 percent hit in the fourth quarter because fragrance demand there weighs on its prestige lines.
- Interim CEO Markus Strobel outlined steps to lift margins that include cutting smaller product launches, streamlining the operating model, and using AI to lower marketing asset production costs.