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Coty, Inc. (COTY) Beats Q3 Earnings & Revenue Estimates

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Coty, Inc. (COTY - Free Report) manufactures, markets and distributes beauty products. Investors should also note that COTY has been witnessing slight downward estimate revisions during the past 30 days. Further, COTY has a mixed history when it comes to recent earnings reports as the company posted negative surprises in three of the last four quarters with one positive surprise, with an average positive surprise of 11.77%.

Currently, COTY has a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank stocks here. The Zacks Rank could change following Coty’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: COTY beats earnings. Our consensus called for EPS of 11 cents, and the company posted adjusted EPS of 15 cents per share instead. Investors should note that these figures take out stock option expenses.

Revenue: COTY posted revenues of $2.032 billion, exceeding our consensus estimate of $1.961 billion.

Key Stats to Note: Coty’s sales declined 2% on a constant currency basis. The company expects the constant currency net revenue trends to weaken in the fourth quarter compared sequentially.

Stock Price: Shares were up 3.7% in pre-market trading.

Check back later for our full write up on this COTY earnings report later!

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