本文源自：金融界AI电报 美国化妆品集团科蒂(COTY.US)夜盘跌超13%，报2.74美元。 ...

格隆汇2月6日｜美国化妆品集团科蒂(COTY.US)夜盘跌超13%，报2.74美元。消息面上，科蒂公布2026 财年第二季度业绩，营收为16.8亿美元，略超过市场预期的16.6亿美元；调整后每股收益为0.14美元， 则不及分析师预期的0.18美元。公司预计第三季度调整后EBITDA将降至1亿-1.1亿美元，亦低于分析师 预期的2.016亿美元。此外，公司宣布撤回之前对2026财年EBITDA和自由现金流的预测，新任临时首席 执行官Markus Strobel呼吁加强纪律和执行力，以扭转低迷的财务业绩。(格隆汇) ...

Core Insights - Coty reported quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.18 per share, representing an earnings surprise of -22.91% [1] - The company posted revenues of $1.68 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.82% [2] - Coty shares have increased by approximately 11.4% since the beginning of the year, outperforming the S&P 500's gain of 0.5% [3] Earnings Performance - Over the last four quarters, Coty has not surpassed consensus EPS estimates [2] - The current consensus EPS estimate for the coming quarter is $0.08 on revenues of $1.34 billion, and for the current fiscal year, it is $0.42 on revenues of $5.89 billion [7] Industry Outlook - The Cosmetics industry, to which Coty belongs, is currently in the top 39% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Coty's stock performance [5]

Core Insights - The company reported a quarterly loss of $126.9 million, a significant decline compared to a profit of $20.4 million in the same quarter of the previous year [1] Financial Performance - The loss of $126.9 million marks a substantial shift from the previous year's profit, indicating a challenging financial period for the company [1] - The year-over-year comparison highlights a negative change of approximately $147.3 million in net income [1]

Financial Data and Key Metrics Changes - The company reported a decline in adjusted EBITDA of 15% year-over-year, totaling $330 million, which was at the lower end of the guidance range [39] - Adjusted gross margin was 64.2%, reflecting a 260 basis point decline from the prior year, primarily due to an intensified promotional environment during the holiday period [37] - Free cash flow in the first half was $524 million, exceeding guidance and last year's performance, driven by better receivables performance [40] Business Line Data and Key Metrics Changes - In the Prestige segment, like-for-like sales declined by 2%, an improvement from a 6% decline in the previous quarter, with innovation contributing positively [31][32] - Consumer beauty saw like-for-like sales decline of 6%, improving from an 11% decline in Q1, indicating some recovery efforts are taking effect [33] - The company plans to streamline its innovation pipeline to focus on core brands, which is expected to improve productivity and drive margin accretion [34] Market Data and Key Metrics Changes - The prestige beauty market grew approximately 5% in Q2, showing a slowdown from 6% growth in Q1, particularly in the U.S. and certain European markets [29] - The U.S. market experienced significant pressure, with the prestige fragrance market growth slowing from 7% to 3% [16] - Emerging regions like Asia Pacific and Latin America showed strong sell-out performance, balancing weaker results in key markets [30] Company Strategy and Development Direction - The company is implementing a new strategic framework called "Coty Curated," focusing on making big brands bigger and stopping initiatives that dilute resources [8][9] - A performance improvement plan named "Color the Future" is being activated to return the consumer cosmetics business to growth and profit expansion [26] - The company is committed to operational discipline and prioritizing investments in core brands to drive sustainable growth [51] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that financial results over the past 18 months have been disappointing, indicating a need for improved operational performance [8] - The leadership transition is seen as an opportunity to provide a balanced view of the business and set realistic financial targets [50] - The company expects mid-single-digit declines in like-for-like revenue trends for Q3, driven primarily by consumer beauty [42] Other Important Information - The company ended its license with the Orveda skincare brand to focus on scale and profitability [27] - A strategic collaboration with OpenAI is being pursued to enhance AI capabilities within the organization [24] - The divestiture of Wella generated $750 million in upfront proceeds, aligning with the company's commitment to divest financial stakes [41] Q&A Session Summary Question: What are the expectations for the upcoming quarters? - The company expects like-for-like sales to decline mid-single digits in Q3, primarily due to consumer beauty challenges [42] - Management is focused on improving market share and operational discipline to drive future growth [51]

Financial Data and Key Metrics Changes - The company reported a decline in adjusted EBITDA of 15% year-over-year, totaling $330 million, which was at the lower end of the guidance range [39] - Adjusted gross margin was 64.2%, reflecting a 260 basis point decline from the prior year, primarily due to an intensified promotional environment during the holiday period [37] - Free cash flow in the first half was $524 million, exceeding guidance and last year's first half free cash flow of $411 million [40] Business Line Data and Key Metrics Changes - In the Prestige segment, like-for-like sales declined by 2%, an improvement from a 6% decline in the previous quarter, driven by reduced retailer destocking and stronger innovation contributions [31][32] - Consumer beauty saw like-for-like sales decline of 6%, improving from an 11% decline in Q1, with a focus on reallocating investments towards core brands [33][34] - The company plans to streamline the innovation pipeline to focus on high-potential launches, particularly in color cosmetics [35] Market Data and Key Metrics Changes - The prestige beauty market grew approximately 5% in Q2, showing a slowdown from 6% growth in Q1, with the prestige fragrance market moderating from 5% to 3% growth [29][30] - Emerging regions like Asia Pacific, Middle East, and Latin America showed strong sell-out performance, balancing weaker sales in key markets like the U.S., Germany, and the U.K. [30] - The U.S. market experienced significant pressure, with the prestige fragrance market slowing and aggressive promotional activity impacting overall growth [16][28] Company Strategy and Development Direction - The company is implementing a new strategic framework called "Coty Curated," focusing on making big brands bigger, scaling successful initiatives, and stopping projects that dilute resources [8][9] - A performance improvement plan named "Color the Future" is being activated to return the consumer cosmetics business to growth and profit expansion [26][33] - The company is committed to operational discipline and prioritizing investments in core brands to drive sustainable growth [10][51] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that financial results over the past 18 months have been disappointing, with a need for improved operational discipline and focus [7][8] - The leadership transition is seen as an opportunity to refine strategic priorities and align with the board for future growth [41][50] - The company expects mid-single-digit declines in like-for-like revenue trends for Q3, primarily driven by consumer beauty [42][45] Other Important Information - The company ended its license with the Aveda skincare brand to focus on scale and profitability [27] - The divestiture of Wella generated $750 million in upfront proceeds, aligning with the company's commitment to divest its financial stake [41] - The company is leveraging AI to enhance operational efficiency and reduce costs in content creation [24] Q&A Session Summary Question: What are the expectations for the upcoming quarters? - The company expects like-for-like sales to decline mid-single digits in Q3, driven by consumer beauty challenges and a highly promotional environment [42][45] Question: How is the company addressing underperformance in the U.S. market? - Management is focusing on reallocating investments towards core brands and improving execution in key markets to close market share gaps [18][33] Question: What is the outlook for gross margins? - The company anticipates gross margins to decline by 200-300 basis points in Q3, influenced by lower sales and a highly promotional environment [46][47]

Financial Data and Key Metrics Changes - The company reported a decline in adjusted EBITDA of 15% year-over-year, totaling $330 million, which was at the lower end of guidance for a low- to mid-teens decline [37] - Adjusted gross margin was 64.2%, reflecting a 260 basis point decline from the prior year, with expectations for continued margin pressures in the second half of fiscal year 2026 [36][44] - Free cash flow in the first half was $524 million, exceeding guidance and last year's performance, driven by better receivables performance [38] Business Line Data and Key Metrics Changes - In the Prestige segment, like-for-like sales declined by 2%, an improvement from a 6% decline in the previous quarter, with innovation contributing positively [31][32] - Consumer beauty saw like-for-like sales decline of 6%, improving from an 11% decline in Q1, with a focus on reallocating investments to core brands [33][36] - The company plans to streamline its innovation pipeline to focus on high-potential launches, particularly in the color cosmetics segment [34] Market Data and Key Metrics Changes - The prestige beauty market grew approximately 5% in Q2, indicating a slowdown from 6% growth in Q1, with the prestige fragrance market moderating from 5% to 3% growth [28][29] - The company experienced a gap between sell-out and market performance, particularly in key markets like the U.S., U.K., and Germany, while emerging markets showed strong sell-out performance [30][31] Company Strategy and Development Direction - The company is implementing a new strategic framework called "Coty Curated," focusing on making big brands bigger, scaling successful initiatives, and stopping those that dilute resources [9][10] - A performance improvement plan named "Color the Future" is being activated to return the consumer cosmetics business to growth and profit expansion [26][33] - The company is prioritizing operational discipline and focused investment to enhance market share and profitability [18][49] Management's Comments on Operating Environment and Future Outlook - Management acknowledged disappointing financial results over the past 18 months and emphasized the need for operational discipline and focused execution to leverage the company's strengths [8][9] - The outlook for Q3 includes expectations for mid-single-digit declines in like-for-like revenue trends, particularly in consumer beauty, while the prestige fragrance market is expected to grow low to mid-single digits [40][41] - Management is committed to protecting marketing investments behind core brands and expects to see improvements in sell-out trends in focus brands [46][44] Other Important Information - The company ended the quarter with net debt of $2.6 billion and leverage of 2.7x, the lowest levels in over nine years, with a commitment to reduce leverage closer to 2x over time [39] - The divestiture of Wella generated $750 million in upfront proceeds, aligning with the company's strategy to streamline its portfolio [38] Q&A Session Summary Question: What are the expectations for the upcoming quarters? - The company expects like-for-like sales to decline mid-single digits in Q3, driven primarily by declines in consumer beauty, while the prestige fragrance market is anticipated to grow low to mid-single digits [40][41] Question: How is the company addressing the underperformance in the U.S. market? - The company is focusing on reallocating investments to core brands and improving execution in key markets, with a specific plan to narrow the sell-out gap with the market over time [33][41]

NEW YORK--(BUSINESS WIRE)--Regulatory News: Coty Inc. (NYSE: COTY) (EURONEXT PARIS: COTY) today announced that on February 5, 2026 the Company filed its quarterly report on Form 10-Q for the fiscal quarter ended December 31, 2025 with the U.S. Securities and Exchange Commission (the "SEC†). The quarterly report is available on the SEC's website at: https://www.sec.gov/ix? doc=/Archives/edgar/data/0001024305/000102430526000014/coty-20251231.htm. About Coty Inc. Founded in Paris in 1904, Coty is o. ...

CoverGirl owner Coty withdrew its full-year guidance on Thursday as it launched a strategic focus on core brands, with new interim CEO Markus Strobel calling for improved discipline and execution to t... ...

Financial Performance - Coty Inc. reported financial results for the fiscal year ended June 30, 2025, with a focus on strategic planning and operational efficiency [162]. - The fiscal year 2026 is projected to continue the trend of operational transformation and strategic growth initiatives [171]. - In the first half of fiscal 2026, net revenues from fragrances decreased by a low single-digit percentage compared to the prior-year period, with a focus on leveraging innovations like the Boss Bottled Beyond launch to unlock value in key markets [179]. - Net revenues from color cosmetics declined by a mid single-digit percentage in the first half of fiscal 2026, prompting the implementation of a performance improvement plan to narrow the sell-out gap [180]. - Skin and body care net revenues also declined by a low single-digit percentage in the first half of fiscal 2026, influenced by competitive pricing actions in the Brazil market [182]. - In the Americas, net revenue declined by a mid single-digit percentage, primarily due to weak demand in the U.S. color cosmetics market, while EMEA and Asia Pacific also saw declines [183]. - The third quarter of fiscal 2026 is expected to see a decline in reported net revenue compared to the prior year, with gross margin pressures anticipated due to lower net sales and tariff impacts [184]. - For the three months ended December 31, 2025, Coty Inc. reported a net loss of $116.2 million, a significant decline from a net income of $30.6 million in the same period of 2024, representing a change of less than 100% [210]. - For the six months ended December 31, 2025, net revenues decreased by 3%, or $85.6 million, to $3,255.8 million from $3,341.4 million in the same period of 2024, primarily due to a 4% decrease in unit volume and a negative price and mix impact of 1% [229]. - Net loss attributable to Coty Inc. was $55.7 million for the six months ended December 31, 2025, compared to net income of $106.6 million for the same period in 2024, primarily due to a realized loss on the sale of Wella of $200.9 million [265]. Revenue and Segment Analysis - The overall increase in net revenues reflects sales growth in the Prestige segment, while Consumer Beauty faced declines primarily due to color cosmetics in the U.S. market [194][197]. - Prestige segment net revenues rose by 2%, or $17.5 million, to $1,133.6 million, while Consumer Beauty segment revenues decreased by 2%, or $8.8 million, to $545.0 million [196][198]. - Prestige segment net revenues decreased by 1%, or $27.1 million, to $2,203.1 million, while Consumer Beauty segment revenues fell by 5%, or $58.5 million, to $1,052.7 million [230]. - The operating income for the Consumer Beauty segment dropped to $10.6 million, a decline of 86% from $78.1 million in the prior year [243]. Cost and Expense Management - Coty aims to achieve cost control and gross margin growth as part of its strategic initiatives, with a focus on debt deleveraging [165]. - Cost of sales increased by 9%, or $52.3 million, to $608.0 million, resulting in a gross margin decrease of approximately 290 basis points, with cost of sales as a percentage of net revenues rising to 36.2% [199]. - Selling, general and administrative expenses increased by 6%, or $45.2 million, to $842.5 million, with expenses as a percentage of net revenues rising to 50.2% [202]. - The company is re-accelerating cost reduction efforts to achieve savings of approximately $80.0 million in fiscal 2026 [184]. - The Fixed Cost Reduction Plan is expected to incur cash costs of approximately $80.0 million, split evenly between fiscal 2026 and fiscal 2027, with $15.0 million incurred to date [273]. Strategic Initiatives and Future Outlook - The company is undergoing a strategic review of its consumer beauty business, including its mass color cosmetics and local Brazilian brands [164]. - Coty is evaluating potential strategic transactions, including acquisitions and divestitures, to optimize its portfolio and enhance market position [164]. - The ongoing strategic transformation agenda is under review by the Interim CEO to enhance performance and competitive positioning, with no material changes finalized yet [174]. - Coty is focused on enhancing its e-commerce and digital initiatives to adapt to changing consumer preferences and market trends [165]. - Future launches will be developed with dual production capabilities to mitigate supply chain disruptions and cost increases [177]. Supply Chain and Operational Challenges - Coty is facing risks related to global supply chain challenges and geopolitical uncertainties, which may impact its operations and financial performance [166]. - The company is optimizing its supply chain to enhance resilience and agility in response to changing tariff environments, including transitioning mass fragrance production to U.S. manufacturing sites [176]. - The company estimates an impact of approximately $33.0 million in costs related to tariff increases through the first quarter of fiscal 2027, with about $28.0 million expected in fiscal 2026 [178]. Tax and Financial Adjustments - The effective income tax rate for the three months ended December 31, 2025, was 31.1%, down from 45.9% in the prior year, attributed to the release of uncertain tax positions [220]. - The effective income tax rate decreased to 31.4% for the six months ended December 31, 2025, from 35.9% in 2024, primarily due to the release of uncertain tax positions [259]. Cash Flow and Financing Activities - Net cash provided by operating activities increased to $624.9 million for the six months ended December 31, 2025, up from $531.9 million in 2024, driven by changes in working capital [285]. - Net cash provided by investing activities was $658.7 million, significantly improved from $(108.2) million in 2024, primarily due to proceeds from the sale of the remaining equity investment in Wella [286]. - Net cash used in financing activities increased to $(1,106.5) million from $(461.3) million in 2024, largely due to debt-related activities and higher payments associated with hedge valuation adjustments [287].