We delivered a high level of client service, maintained a strong financial position, and continued to skillfully navigate lingering macroeconomic headwinds in certain key markets, mainly caused by the effect of tariffs and trade destocking and, of course, geopolitical conflicts. Innovation will continue to define our success, including the rollout of brands recently signed or acquired, namely Longchamp, Off-White, and Goutal, as well as a 15-year extension of our GUESS license and our strengthening partners ...

Financial Data and Key Metrics Changes - In 2025, the company achieved record sales of $1.49 billion, with fourth quarter sales of $386 million, marking the best fourth quarter performance ever [4][26] - Fourth quarter sales rose 7% on a reported basis and 3% on an organic basis, driven by higher sales from both US and European operations [8][26] - Gross margin contracted by 20 basis points to 63.6% in 2025, primarily due to higher costs from tariffs, which resulted in approximately $12.8 million in additional costs [27][28] Business Line Data and Key Metrics Changes - US operations saw a 4% increase in fourth quarter sales, driven by brands like Guess and Donna Karan Beauty NY, while full year sales declined 3% excluding the phase-out of Dunhill fragrances [8][34] - European-based operations reported a 9% increase in fourth quarter sales, with a 4% rise in organic growth and a 4% positive effect from foreign exchange [11][32] - Notable brand performances included a 33% increase in Cavalli fragrance sales and a 40% increase in MCM fragrance sales in the fourth quarter [10][11] Market Data and Key Metrics Changes - The travel retail market grew by 6% in 2025, representing approximately 7% of total net sales, with brands like Cavalli, Lacoste, and Coach performing well [20] - The company noted strong sell-through rates and healthy ordering patterns in early 2026, indicating a positive market environment [100][101] Company Strategy and Development Direction - The company plans to continue expanding its portfolio with new partnerships and brand acquisitions, including a 15-year extension of the Guess license and new agreements with David Beckham and Nautica [18][19] - Innovation remains a key focus, with expectations for significant new product launches in 2027 across major brands [70] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the operating environment, noting ongoing macroeconomic challenges such as tariffs and geopolitical conflicts [6][24] - The company anticipates a stable market in 2026, with expectations for stronger growth in 2027 driven by enhanced innovation [39][40] Other Important Information - The company has made progress in operational improvements, including transitioning to 100% third-party providers for logistics and managing inventory levels effectively [21][36] - The effective tax rate for the year was 23.3%, down from 24.2% in 2024, benefiting from a one-time favorable net tax gain [31] Q&A Session Summary Question: What metrics will be considered for updating guidance? - Management indicated that they are monitoring market growth and the innovation pipeline, with a cautious approach to revising guidance due to market volatility [42][46] Question: What is the outlook for promotions in the market? - Management noted a slight uptick in promotions in the fourth quarter but emphasized that it was not significant and typical for the industry [48][52] Question: Is there capacity for additional brand acquisitions? - Management confirmed that there is capacity to add more brands to the portfolio and is actively seeking new opportunities [61][62] Question: What are the expectations for the flanker pipeline? - The flanker strategy is designed to maintain market share, with expectations for brands like GUESS and Lacoste to outperform in 2026 [69][70] Question: How are trends across key regions shaping up in 2026? - The US and Southern Europe are performing well, while Northern Europe is more challenging; Asia, particularly China, remains slow [100][102]

Inter Parfums (NasdaqGS:IPAR) Q4 2025 Earnings call February 25, 2026 11:00 AM ET Company ParticipantsAron Adamski - AssociateDevin Sullivan - Managing DirectorHamed Khorsand - Principal and Director of ResearchJean Madar - Chairman and CEOMichel Atwood - CFOConference Call ParticipantsSusan Anderson - Managing Director and Senior AnalystSydney Wagner - Consumer Equity Research AnalystOperatorGreetings, welcome to the Inter Parfums Fourth Quarter 2025 Conference Call and webcast. At this time, all participa ...

Inter Parfums (NasdaqGS:IPAR) Q4 2025 Earnings call February 25, 2026 11:00 AM ET Speaker5Greetings, welcome to the Inter Parfums fourth quarter 2025 conference call and webcast. At this time, all participants are in a listen-only mode. A question and answer session will follow a formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Devin Su ...

FY2025 Net Sales $1.49 Billion and Diluted EPS of $5.24 Per Share; Reaffirms FY2026 Guidance and Maintains Annual Cash Dividend of $3.20 for 2026 NEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Interparfums, Inc. (NASDAQ GS: IPAR) (“Interparfums” or the “Company”) today reported record results for the fourth quarter and full year ended December 31, 2025. Financial Highlights:($ in millions, except per share amounts)Three Months EndedDecember 31,Year EndedDecember 31,20252024% Change20252024% Ch ...

Core Insights - Central Garden & Pet Company (CENT) has increased its share repurchase authorization by an additional $100 million, indicating a commitment to enhancing shareholder value and a belief that its shares are currently undervalued [1][10]. Share Repurchase Program - The share repurchase program has no expiration date, allowing the company to limit, suspend, or terminate it at any time without prior notice, reflecting confidence in its financial position [2]. - In the first quarter of fiscal 2026, the company repurchased approximately 660,000 shares for $18.5 million, with $28 million remaining under the existing authorization for future buybacks [3][10]. Financial Performance and Strategy - Central Garden & Pet is executing a multi-year transformation plan aimed at strengthening its leadership in pet consumables and lawn and garden categories through innovation and supply-chain simplification [4]. - The company reported cash, cash equivalents, and short-term investments of $721 million at the end of the first quarter of fiscal 2026, a year-over-year increase of $103 million [6][10]. - Management reaffirmed its fiscal 2026 earnings per share target of $2.70 or higher, with the Pet segment showing steady growth and the Garden segment expected to recover seasonally [5][10]. Valuation and Market Performance - CENT shares have gained 19.7% in the past month, outperforming the industry growth of 9.3% [7]. - The company trades at a forward price-to-earnings ratio of 13.60X, which is lower than the industry's average of 18.23X, indicating potential value [8].

Core Insights - dsm-firmenich reported a stable performance in FY 2025 with sales of €12,521 million, a decrease of 2% from FY 2024, while adjusted EBITDA increased by 8% to €2,279 million [3][25] - The company executed its strategic roadmap by divesting its Animal Nutrition & Health business, allowing a focus on core consumer nutrition, health, and beauty sectors [4][12] - The company aims for organic sales growth of 5-7% and an adjusted EBITDA margin of 22-23% in the mid-term [10] Financial Performance - Continuing operations saw sales of €9,034 million in FY 2025, nearly unchanged from FY 2024, with an organic sales growth of 3% [2][26] - Adjusted EBITDA for continuing operations was €1,772 million, reflecting a 1% increase from the previous year, with an adjusted EBITDA margin of 19.6% [2][26] - Net profit from continuing operations was €342 million, down from €359 million in FY 2024 [2] Business Unit Performance - Perfumery & Beauty (P&B) achieved 3% organic sales growth, with Fine Fragrances showing high-single digit growth, while Beauty & Care faced challenges [28][34] - Taste, Texture & Health (TTH) delivered 4% organic sales growth, supported by synergies, although growth softened in the second half of the year [40][41] - Health, Nutrition & Care (HNC) also reported 3% organic sales growth, driven by strong performance in Dietary Supplements and Early Life Nutrition [48][49] Strategic Initiatives - The company announced a €500 million share repurchase program to commence in Q1 2026, alongside maintaining a stable dividend of €2.50 per share [6][7] - dsm-firmenich is focused on embedding best practices across its organization to drive continuous improvement and operational excellence [9] - The company aims to deliver on its mid-term ambitions, including achieving approximately €350 million in merger synergies [10][11] Sustainability Efforts - dsm-firmenich achieved 100% of purchased electricity from renewable sources ahead of schedule and received a Platinum medal from EcoVadis for sustainability [67][68] - The company aims to reach one billion people with nutritional interventions by 2030, having reached 775 million in 2025 [63][64] - Progress was made in reducing greenhouse gas emissions, with a 31% reduction in Scope 1 & 2 emissions compared to the 2021 baseline [65][66]

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]

Core Viewpoint - Interparfums, Inc. has announced a 15-year extension of its exclusive worldwide license agreement with Guess?, Inc., extending the partnership for a total of 23 years, highlighting the strength and success of their collaboration in the fragrance market [1][2]. Company Overview - Interparfums, Inc. has been operating in the global fragrance business since 1982, producing and distributing a wide array of prestige fragrance products under various brand licenses [4]. - The company manages its operations through two segments: European operations via a 72% owned subsidiary, Interparfums SA, and U.S. operations through wholly owned subsidiaries in the U.S. and Italy [4]. Partnership Details - The extension of the license agreement emphasizes the successful partnership between Interparfums and Guess?, with significant growth in the GUESS fragrance portfolio, which has gained global prominence [2][3]. - Interparfums has launched several successful fragrances since 2018, including Bella Vita and Uomo, and has plans for more dynamic launches in the future [3]. - The partnership is expected to continue driving impressive sales growth in key markets, with GUESS fragrances remaining a significant part of Interparfums' portfolio [2][3]. Market Position - The GUESS brand is recognized as one of the largest in Interparfums' portfolio, with additional scalability anticipated [3]. - Interparfums is committed to maintaining its full global responsibility for GUESS fragrances until December 31, 2048 [3]. Additional Information - Interparfums' portfolio includes various prestigious brands such as Abercrombie & Fitch, Coach, and Jimmy Choo, distributed in over 120 countries through a diverse network of distributors [5]. - Guess?, Inc. operates a lifestyle collection of products and has a significant retail presence, with 1,058 directly operated stores and additional partner-operated stores worldwide as of November 1, 2025 [6].

Core Viewpoint - Interparfums, Inc. reported a record net sales of $1.49 billion for the full year 2025, reflecting a 2% increase from 2024, with strong performance in the fourth quarter contributing to this growth [1][4]. Financial Performance - Fourth quarter net sales reached $386 million, a 7% increase compared to $362 million in the same quarter of 2024 [2]. - Full year net sales for 2025 were $1,489 million, up from $1,452 million in 2024, marking a 2% increase [2]. - European based net sales for the fourth quarter were $233 million, a 9% increase from $214 million in 2024, while full year sales rose 7% to $1,016 million [2][5]. - U.S. based net sales for the fourth quarter were $155 million, a 4% increase from $149 million in 2024, but full year sales declined by 6% to $482 million [2][10]. Exchange Rate Impact - The average dollar/euro exchange rate for the fourth quarter of 2025 was 1.16, compared to 1.07 in the fourth quarter of 2024, resulting in a positive 3% foreign exchange impact [3]. - For the full year, the average exchange rate was 1.13, leading to a positive 2% foreign exchange impact [3]. Brand Performance - Coach fragrance sales increased by 5% in the fourth quarter and 15% for the full year, supported by successful product launches [6]. - Lacoste fragrance sales grew 23% in the fourth quarter and 28% for the full year, exceeding expectations with full year sales of $108 million [7]. - Montblanc brand sales rose 22% in the fourth quarter, driven by new product lines and favorable foreign exchange [8]. - Jimmy Choo fragrances saw a 6% growth in 2025, bolstered by the success of the I Want Choo franchise [9]. U.S. Operations Insights - U.S. operations saw a 4% increase in sales during the fourth quarter, driven by GUESS and Donna Karan/DKNY brands [10]. - GUESS and Donna Karan/DKNY each posted sales increases of 7% and 8% respectively in the fourth quarter [11]. - Roberto Cavalli fragrance sales rose 33% in both the fourth quarter and full year, reflecting successful product launches [12]. - MCM fragrance sales increased by 40% in the fourth quarter and 17% for the full year [12]. Future Outlook - The company remains cautiously optimistic about 2026, anticipating a more favorable operating environment and plans for major innovations and potential new brand acquisitions [13].