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Interparfums, Inc. Reports Record 2024 Fourth Quarter and Full Year Results
IPARInter Parfums(IPAR) GlobeNewswire·2025-02-25 21:05

Core Insights - Interparfums, Inc. reported record results for the fourth quarter and full year ended December 31, 2024, achieving a diluted EPS of 5.12andreaffirmingits2025guidancewitha75.12 and reaffirming its 2025 guidance with a 7% increase in cash dividend [1][9][15] Financial Performance - Fourth quarter net sales reached 362 million, a 10% increase from 329millionin2023;fullyearnetsaleswere329 million in 2023; full year net sales were 1.452 billion, also a 10% increase from 1.318billionin2023[2]−Grossmarginforthefourthquarterwas64.51.318 billion in 2023 [2] - Gross margin for the fourth quarter was 64.5%, slightly down from 64.7% in 2023; for the full year, gross margin improved to 63.9% from 63.7% [2][10] - Operating income before impairment loss was 40 million for the fourth quarter, up 112% from 19millionin2023;forthefullyear,itwas19 million in 2023; for the full year, it was 279 million, an 11% increase from 251million[2][12]−NetincomeattributabletoInterparfums,Inc.was251 million [2][12] - Net income attributable to Interparfums, Inc. was 24 million for the fourth quarter, a 133% increase from 10millionin2023;forthefullyear,netincomewas10 million in 2023; for the full year, net income was 164 million, up 8% from 153million[2]BrandPerformance−Thetopsixbrands,whichaccountforapproximately70153 million [2] Brand Performance - The top six brands, which account for approximately 70% of net sales, saw sales growth of 5% in the fourth quarter and 4% for the full year [5] - Key markets such as North America, Western Europe, and Asia/Pacific reported sales increases of 6%, 21%, and 3% respectively for the full year [5] - The brands Lacoste and Roberto Cavalli exceeded 115 million in sales during their first year under Interparfums' management, indicating strong demand [7] Strategic Outlook - The company plans to launch new product lines and extensions in 2025, including its first proprietary niche brand, Solférino, expected to debut in summer 2025 [8] - Interparfums anticipates continued growth in the prestige and luxury fragrance market, supported by a solid level of reorders in the first half of 2025 [8] Dividend and Guidance - The Board of Directors approved a 7% increase in the annual cash dividend rate to 3.20pershare,reflectingconfidenceinthecompany′sfinancialstrength[15]−The2025guidanceprojectsnetsalesof3.20 per share, reflecting confidence in the company's financial strength [15] - The 2025 guidance projects net sales of 1.51 billion and EPS of $5.35, representing a 4% increase for both metrics [14]