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Coty (COTY) Q3 Earnings Top Estimates, Drop Year Over Year

Coty Inc.COTY , the manufacturer and marketer of beauty products, came out with third-quarter fiscal 2018 results. Adjusted earnings of 13 cents a share came a penny ahead the Zacks Consensus Estimate of 12 cents, while it tumbled nearly 13% year-over-year.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has trended downward in the past 30 days. However, in the trailing four quarters (excluding the quarter under review), the company has topped the Zacks Consensus Estimate by an average of 3.1%.

Coty Inc. Price and EPS Surprise

Coty Inc. Price and EPS Surprise | Coty Inc. Quote

Revenues: Coty generated net sales of $2,222.7 million that advanced 9.4% year over year and came ahead of the Zacks Consensus Estimate of $2,187 million. Sales grew 3.4% on a constant currency basis.

Key Events: Concurrent to the earnings release, Coty announced a quarterly dividend of 12.5 cents per share, payable on Jun 14, 2018. Also, the company concluded the previously unveiled portfolio rationalization plan after completing the third quarter.

Zacks Rank: Currently, Coty carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on Coty earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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