Coty (NYSE:COTY) reported a mixed set of FQ4 results, sending its shares about 1.5% lower in premarket Tuesday.
Revenue of $1.35 billion, marked a 16% year-on-year increase and was better than the Street a $1.31B. An EPS of $0.01 came somewhere in line with analyst estimates.
"Today's FY23 results mark the third consecutive year that Coty has delivered strong financial, operational and strategic performance, and the twelfth consecutive quarter of results inline to ahead of expectations,” said Sue Y. Nabi, Coty's CEO.
On the guidance front, the company sees adjusted EBITDA in the range of $1.07B-$1.08B and adjusted EPS of $0.44-$0.47. Analysts were looking for an adjusted EBITDA of $1.08B and EPS of $0.54.
“Entering FY24, the beauty market remains a strong and outperforming category, with ongoing premiumization trends. Coty is continuing to benefit from these positive trends, with momentum across its core categories, a strong innovation pipeline, and early wins in key white spaces. The combination of these factors are fueling the Company's expectations for FY24 for the core business to grow at the top of Coty's medium term target range of 6-8% LFL,” the company said in a press release.