For the quarter ended June 2024, Inter Parfums (IPAR) reported revenue of $342.23 million, up 10.7% over the same period last year. EPS came in at $1.14, compared to $1.09 in the year-ago quarter. The reported revenue represents a surprise of +0.05% over the Zacks Consensus Estimate of $342.05 million. With the consensus EPS estimate being $1.07, the EPS surprise was +6.54%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Inter Parfums (IPAR) came out with quarterly earnings of $1.14 per share, beating the Zacks Consensus Estimate of $1.07 per share. This compares to earnings of $1.09 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.54%. A quarter ago, it was expected that this perfume maker would post earnings of $1.56 per share when it actually produced earnings of $1.27, delivering a surprise of -18.59%. Over the last four quarters, the co ...

Financial Performance - Net sales for the three months ended June 30, 2024, increased by 10.7% to $342.2 million compared to $309.3 million for the same period in 2023[62]. - European based product sales for the six months ended June 30, 2024, were $457.0 million, up 6.8% from $428.1 million in 2023[62]. - United States based product sales for the three months ended June 30, 2024, grew by 7.9% to $120.2 million from $111.5 million in 2023[62]. - Net sales for European based operations reached $226.0 million for the three months ended June 30, 2024, up from $197.8 million in the same period of 2023, representing a growth of 14.3%[67]. - Net income attributable to Inter Parfums, Inc. was $36.8 million for the three months ended June 30, 2024, compared to $35.0 million for the same period in the prior year, representing a 5% increase[80]. - Net income attributable to European based operations increased to $33.2 million for the three months ended June 30, 2024, up from $27.0 million in the prior year, reflecting a 23% growth[81]. Brand Performance - The introduction of the Lacoste brand contributed $39.5 million in sales during the first half of 2024[63]. - The company's largest brands by sales percentage for the six months ended June 30, 2024, included Montblanc at 17%, Jimmy Choo at 16%, and Coach at 14%[53]. - North America sales rose 5% in the first half of 2024, while Western Europe and Asia/Pacific saw increases of 11% and 6%, respectively[66]. Expenses and Margins - Gross profit margin for European based operations was 68.8% for the three months ended June 30, 2024, compared to 63.0% for the same period in 2023, an increase of 5.8 percentage points[68]. - Selling, general and administrative expenses for European based operations increased by 21.2% to $108.1 million for the three months ended June 30, 2024, compared to $89.2 million in the prior year[71]. - The company's overall operating margins were 18.9% for the three months ended June 30, 2024, compared to 17.8% for the same period in 2023[74]. - Promotion and advertising expenses totaled $66.4 million for the three months ended June 30, 2024, representing 19.4% of net sales, up from 17.7% in the prior year[72]. - Royalty expenses for the three months ended June 30, 2024, were $27.0 million, representing 7.9% of net sales, compared to 7.8% in the same period of 2023[73]. - The company's gross profit margin as a percentage of net sales was 64.5% for the three months ended June 30, 2024, compared to 60.9% for the same period in 2023[67]. - Net profit margins for Inter Parfums, Inc. were 11.7% as of June 30, 2024, down from 14.3% in the prior year, impacted by inflation and increased costs[82]. Cash Flow and Liquidity - Cash and cash equivalents totaled $77 million as of June 30, 2024, with working capital aggregating $525 million, indicating a strong liquidity position[83]. - Cash used in operating activities was $26.5 million for the six months ended June 30, 2024, compared to cash provided of $6.8 million in the same period of 2023[88]. - Inventory levels increased by 19% from year-end 2023, supporting overall sales growth and new brand launches[88]. Tax and Interest - The effective tax rate for United States based operations was 19.9% for the six months ended June 30, 2024, compared to 17.4% for the same period in 2023[79]. - Interest expense related to financing brand and licensing acquisitions totaled approximately $137.2 million as of June 30, 2024[76]. Foreign Currency and Risk Management - The company's business is significantly influenced by foreign currency exchange rates, with over 50% of European based operations' net sales denominated in U.S. dollars[58]. - As of June 30, 2024, the company had foreign currency contracts totaling approximately $48 million and £11 million, aimed at managing foreign exchange risks[96]. Future Plans - The company plans to launch several brand extensions and new products throughout 2024, including DKNY 24/7 and a new flanker for Roberto Cavalli Signature[66]. - The company has entered into a global licensing agreement for the Roberto Cavalli brand, effective July 2023, with product shipments beginning in February 2024[86]. - The company plans to renew the Van Cleef & Arpels license agreement for an additional 9-year term starting January 1, 2025[86]. Dividends - The annual dividend was increased to $3.00 per share in February 2024, with the next quarterly dividend of $0.75 per share payable on September 30, 2024[90].

Exhibit 99.1 INTERPARFUMS, INC. FOR IMMEDIATE RELEASE INTER PARFUMS, INC. REPORTS RECORD 2024 SECOND QUARTER RESULTS Double-Digit Sales Growth Leading to Margin Expansion; Positive Trajectory to Meet FY2024 Guidance New York, New York, August 6, 2024, Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the second quarter and six months ended June 30, 2024. | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------- ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 6. On the other hand, if they miss, the stock may move lower. This perfume maker is expected to post quarterly earnings of $1.07 per share in its upcoming report, which represents a year-over-year change of -1.8%. The consensus EPS estimate for the quarter has been revised 1.15% lower over the last 30 days to the current level. This is essentially a reflection of how ...

Inter Parfums (IPAR) shares ended the last trading session 8.9% higher at $138.35. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.9% gain over the past four weeks. Inter Parfums' shares rallied on optimistic market sentiment following its record second-quarter 2024 net sales numbers. The company capitalized on the strong momentum in the fragrance market, supported by robust sales from its new licenses, Roberto ...

Management Commentary: "Coach brand's established lines continue to see enduring demand, and the recent addition of Coach Dreams Moonlight resulted in flat sales for the first half of 2024, off a 26% increase in the first half of 2023. We have two new fragrance variations for our Coach brand fragrances in the pipeline for 2025. second half of 2024. In 2025, a new extension of the legacy Lacoste scent will be launched followed by a new blockbuster women's fragrance in 2026." Discussions have been underway si ...

NEW YORK, July 22, 2024 (GLOBE NEWSWIRE) -- Inter Parfums, Inc. (NASDAQ GS: IPAR) ("Inter Parfums" or the "Company") today announced that for the three months ended June 30, 2024, net sales rose to $342 million, up 11% from $309 million, in the second quarter of 2023. Management Commentary: "Montblanc brand sales declined slightly during the quarter, following 16% sales gains in the same period last year. The Montblanc Explorer line is performing favorably, in addition to Legend Blue which launched earlier ...

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Inter Parfums (NASDAQ:IPAR) markets and distributes fragrances under a wide range of licensed brands. The company doesn't own manufacturing facilities, but rather gets the needed components through third-party supplier contracts. The company divides its operations into European and US operations, as presented in the May 2024 investor presentation. Inter Parfums owns a 72% share of the European-based operations, which are listed as a separate entity on the Euronext Paris stock exchange under the ITP ticker. ...