Coty backs FY23 adjusted EPS view 35c-36c, consensus 37c

Coty confirmed that CFO Laurent Mercier will present at the 2023 Bank of America Consumer & Retail Conference on Wednesday, March 15. Coty will provide perspectives on the current beauty market, its financial progress and future growth opportunities. Coty will share that its fiscal Q3 core LFL sales growth is tracking at +10%, reflecting an acceleration from the +7% core LFL sales growth in Q2. As a result, Coty now expects its FY23 core LFL sales growth to be at the upper end of its prior guidance of 6-8% core LFL sales growth. Coty will reiterate its FY23 outlook, including its adjusted gross margin, adjusted EBITDA and adjusted EPS guidance, as the company intends to reinvest incremental profit into its critical skincare initiatives and recent launches.