COTY Expects To Raise Earnings, Revenue Outlook

(RTTNews) - Cosmetics manufacturer Coty Inc. (COTY) said on Tuesday that it will announce an increase in its earnings and revenue outlook at the investor conference in Paris today. The guidance revision is based on the strong momentum seen at its Prestige brand and the recovery in the China market.

Looking ahead to the full year, the company expects to raise its guidance for adjusted EBITDA to be $965 million-$970 million, versus its previous outlook of $955 million-$965 million.

Coty also expects fourth-quarter revenue to grow by 12-15 percent on a like for like basis. Consequently, it sees full- year core revenue growth of 10-11 percent on a like-for-like (LFL) basis compared to the previous outlook for 9-10% LFL growth.

On Wednesday, shares of COTY closed at $12.52 up 0.81% or $0.10 on the New York Stock Exchange