Coty (COTY) Q2 Earnings Report Preview: What To Look For
Stock Story
Published Feb 06, 2024 02:01AM ET
Updated Feb 06, 2024 10:34AM ET
Coty (COTY) Q2 Earnings Report Preview: What To Look For
Beauty products company Coty (NYSE:COTY) will be reporting earnings tomorrow after market hours. Here's what investors should know.
Last quarter Coty reported revenues of $1.64 billion, up 18.1% year on year, beating analyst revenue expectations by 3.9%. It was a weaker quarter for the company, with a miss of analysts' earnings estimates.
Is Coty buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Coty's revenue to grow 10% year on year to $1.68 billion, improving on the 3.5% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.20 per share.
The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing five upward and two downward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 2.2%.
Looking at Coty's peers in the consumer staples segment, some of them have already reported Q2 earnings results, giving us a hint what we can expect. Estée Lauder's revenues decreased 7.4% year on year, beating analyst estimates by 0.9% and BellRing Brands (NYSE:BRBR) reported revenues up 18.7% year on year, exceeding estimates by 5.4%. Estée Lauder was up 10.6% on the results, and BellRing Brands was flat.
Read the full analysis of Estée Lauder's and BellRing Brands's results on StockStory.
Investors in the consumer staples segment have had steady hands going into the earnings, with the stocks down on average 1.5% over the last month. Coty is up 1.9% during the same time, and is heading into the earnings with analyst price target of $13.2, compared to share price of $12.2.
The author has no position in any of the stocks mentioned.
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