Coty reports Q2 adjusted EPS 22c, consensus 15c

Reports Q2 revenue $1.52B, consensus $1.5B. Commenting on the operating results, Sue Y. Nabi, Coty‘s CEO, said: "I am incredibly pleased by Coty’s tenth consecutive quarter of delivering results inline to ahead of expectations, especially as most quarters surpassed expectations despite the highly complex external environment, with particular pressures this quarter from component shortages and FX. This delivery validates the strength of our brands, our teams, and the growing nimbleness of our organization, positioning us for success in various macro scenarios. Coty is firing on all cylinders financially, supported by solid LFL sales growth, ongoing gross margin and profit expansion, strong EPS growth, and our ability to reach the critical milestone of 4x leverage at the end of CY22."