Coty Reports Q4, FY 2024 Results, Strong FY25 Outlook: Details – Coty (NYSE:COTY)

Coty Inc. COTY reported its fourth-quarter and full-year fiscal results Tuesday after the close of trading. Here are the details of the report.

Details: Coty reported a quarterly loss of 3 cents per share, missing analysts’ estimates of 4 cents per share. Quarterly sales were $1.36 billion, below analysts’ estimates of $1.38 billion.

The company reported fiscal year earnings of 37 cents per share, missing the analyst consensus of 44 cents by 15.91%. Fiscal year sales of $6.12 billion also fell short of consensus.

Coty reported that Prestige net revenue increased 13% in fiscal 2024, driven by growth in fragrances, cosmetics and skin care. Consumer Beauty revenue increased 6% over the year, driven by growth in color cosmetics, mass fragrances and mass skin and body care.

Read more: Sidus Space Reports Q2 Results After 45% Growth on Monday

“Our fiscal 2024 results mark a new milestone in Coty’s history of superior execution and outperformance. In a dynamic macroeconomic environment, beauty maintains its privileged position of being neither a consumer goods industry nor a luxury goods industry. Instead, beauty sits at the sweet spot of desire, well-being, confidence, affordability, ritual, indulgence and the many new things we and our consumers will invent,” he said. Sue NabiCEO of Coty.

Perspectives: Coty forecast free cash flow growth to $400 million in fiscal 2025 and earnings per share of 54 cents to 57 cents, compared with estimates of 44 cents.

COTY price action: According to Benzinga Pro, Coty shares were up 0.21% after the close of trading to $9.55 at the time of publication on Tuesday.

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Photo: Courtesy of Coty, Inc.