Inter Parfums reports record Q4 sales, closely near consensus
Inter Parfums (NASDAQ:IPAR) Q4 net sales rose to a record $311M, a 47% increase Y/Y. (vs. consensus $311.50M)
At comparable foreign currency exchange rates, consolidated Q4 net sales increased 57% Y/Y.
For the FY, 2022 net sales rose to $1.087B (vs. consensus $1.09B), up 24% from 2021 and slightly above our latest guidance of $1.08B.
Of note, the average dollar/euro exchange rates for the 2022 and 2021 Q4 were 1.02 and 1.14, respectively, leading to a negative 10% foreign exchange impact.
For 2022 as a whole, European operations grew sales by 26% in euro or 12% in dollars.
In the final quarter of the year, four largest brands, Montblanc, Jimmy Choo, Coach and GUESS? generated sales gains of 50%, 78%, 82% and 28%, respectively, compared to the same period one year earlier.
Michel Atwood, CFO noted, “As announced earlier this month, we plan to issue results for the 2022 fourth quarter and full year on February 28, 2023 and look for 2022 earnings per diluted share to approximate $3.60" (consensus $3.60)
The company plans to announce fourth quarter and full-year 2022 results on February 28, 2023.
Contributor words on the stock: 'Inter Parfums: Strong Recovery, Optimistic Prospects'