Coty misses by $0.03, misses on revs
- Reports Q3 (Mar) earnings of $0.09 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus of $0.12; revenues rose 2.5% year/year to $950.7 mln vs the $970.73 mln Capital IQ Consensus.
- For the full fiscal year, like-for-like revenue performance is expected to remain consistent with the year-to-date trend. Adjusted operating income is expected to be in line with the prior year due to the impact of foreign exchange, with high single digit growth on a constant currency basis.
- Adjusted gross margin of 61.8% increased from 61.6% in the prior-year period, driven primarily by a lower level of promotional and discounted pricing activity.