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Coty profit misses consensus by 67.3% in fiscal Q2

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Coty profit misses consensus by 67.3% in fiscal Q2

Coty Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2016, came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS fell 64.6% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $83.9 million, a decrease of 24.8% from $111.5 million in the prior-year period.

The normalized profit margin fell to 3.7% from 9.2% in the year-earlier period.

Total revenue rose 89.7% year over year to $2.30 billion from $1.21 billion, and total operating expenses rose on an annual basis to $2.10 billion from $995.3 million.

Reported net income fell 49.0% year over year to $45.1 million, or 6 cents per share, from $88.6 million, or 25 cents per share.