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Coty profit misses consensus by 17.1% in fiscal Q1


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Coty profit misses consensus by 17.1% in fiscal Q1

Coty Inc. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 24 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS rose year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $90.6 million, a gain of 6.0% from $85.5 million in the year-earlier period.

The normalized profit margin increased to 8.1% from 7.2% in the year-earlier period.

Total revenue decreased 5.9% on an annual basis to $1.11 billion from $1.18 billion, and total operating expenses declined 7.5% on an annual basis to $939.8 million from $1.02 billion.

Reported net income increased from the prior-year period to $125.8 million, or 34 cents per share, from $10.9 million, or 3 cents per share.