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Coty positive on earnings beat

May 09, 2018 6:51 AM ETCoty Inc. (COTY) StockBy: Niloofer Shaikh, SA News Editor32 Comments
  • Coty (NYSE:NYSE:COTY) reports revenue rose 3.4% on a constant currency basis in Q3.
  • Organic net revenues increased 0.2% on a constant currency basis, driven by strong performance in Luxury and steady momentum in Professional Beauty.
  • Revenue by segment: Luxury: $752.5M (+19%); Consumer Beauty: $1.02B (+3%); Professional: $448.5M (+10%).
  • Geographic revenue break-up: North America: $712.8M (+4%); Europe: $967.5M (+15%); ALMEA: $533.4M (+7%).
  • Adjusted gross margin rate improved 100 bps to 64.3%, mainly due to the realization of benefits from synergy program.
  • Adjusted operating margin rate slipped 10 bps to 10.2%.
  • COTY +2.01% premarket.

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