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Inter Parfums (IPAR) Ups 2020 Earnings View on Solid Q4 Sales
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Inter Parfums, Inc. (IPAR - Free Report) released sales numbers for fourth-quarter 2020, which came ahead of management’s expectations and improved sequentially. In fact, an uptrend in the sales led Inter Parfums to raise earnings guidance for 2020.
For 2020, management now expects earnings per share in the band of $1.15-$1.20. Earlier, Inter Parfums had anticipated earnings in the range of 80-84 cents per share for 2020. Well, the company expects the bottom line to benefit significantly from cost-containment efforts undertaken at the beginning of the pandemic. The company also reaffirmed its guidance for 2021, wherein net sales are anticipated in the band of $610-$625 million, which is likely to generate a net income of $1.20-$1.25 per share.
Sales Numbers in Detail
For the three months ended Dec 31, 2020, net sales amounted to $184 million, up 3.5% (unchanged year over year at constant currency) from $177.8 million reported in the year-ago quarter. The company’s Europe-based operations registered net sales of $139.6 million in the fourth quarter, which increased 8.1% year over year. In U.S.-based operations, net sales declined 8.8% to $44.4 million during the quarter.
Some of the company’s largest brands ended 2020 with impressive sales numbers. Notably, revenues for Montblanc, Jimmy Choo, Coach and Anna Sui brands increased 9.8%, 13.4%, 18.0% and 62.3% year over year, respectively in the fourth quarter. However, the company delayed major product launches in 2020; except Coach Dreams as well as the initial launch of Anna Sui Sky in China and Hong Kong.
That said, Inter Parfums is optimistic about its new product pipeline for 2021. The company has new entrants including women’s scents for the Jimmy Choo, Kate Spade, Lanvin and Rochas brands for its European operations. Further, management plans to unveil scent duos for the Abercrombie & Fitch and Hollister brands in its U.S. operations. Also, it expects to debut women’s fragrance from brands like Anna Sui, Guess? (GES - Free Report) , MCM and Oscar de la Renta in its U.S. operations. Apart from these, Inter Parfums plans to expand distribution of Anna Sui Sky across Asia.
Taking a look at Inter Parfums’ results for year ended Dec 31, 2020, net sales amounted to $539 million. The figure declined 24.5% from $713.5 million reported in the year-ago period. Sales in the Europe and U.S.-based operations declined 22% and 32.3%, respectively, during the same period. We note that shares of this Zacks Rank #4 (Sell) company have declined 13.4% in a year against the industry’s growth of 10.9%.
Nu Skin (NUS - Free Report) , with a Zacks Rank #2, has a long-term earnings growth rate of 7.3%.
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Inter Parfums (IPAR) Ups 2020 Earnings View on Solid Q4 Sales
Inter Parfums, Inc. (IPAR - Free Report) released sales numbers for fourth-quarter 2020, which came ahead of management’s expectations and improved sequentially. In fact, an uptrend in the sales led Inter Parfums to raise earnings guidance for 2020.
For 2020, management now expects earnings per share in the band of $1.15-$1.20. Earlier, Inter Parfums had anticipated earnings in the range of 80-84 cents per share for 2020. Well, the company expects the bottom line to benefit significantly from cost-containment efforts undertaken at the beginning of the pandemic. The company also reaffirmed its guidance for 2021, wherein net sales are anticipated in the band of $610-$625 million, which is likely to generate a net income of $1.20-$1.25 per share.
Sales Numbers in Detail
For the three months ended Dec 31, 2020, net sales amounted to $184 million, up 3.5% (unchanged year over year at constant currency) from $177.8 million reported in the year-ago quarter. The company’s Europe-based operations registered net sales of $139.6 million in the fourth quarter, which increased 8.1% year over year. In U.S.-based operations, net sales declined 8.8% to $44.4 million during the quarter.
Some of the company’s largest brands ended 2020 with impressive sales numbers. Notably, revenues for Montblanc, Jimmy Choo, Coach and Anna Sui brands increased 9.8%, 13.4%, 18.0% and 62.3% year over year, respectively in the fourth quarter. However, the company delayed major product launches in 2020; except Coach Dreams as well as the initial launch of Anna Sui Sky in China and Hong Kong.
That said, Inter Parfums is optimistic about its new product pipeline for 2021. The company has new entrants including women’s scents for the Jimmy Choo, Kate Spade, Lanvin and Rochas brands for its European operations. Further, management plans to unveil scent duos for the Abercrombie & Fitch and Hollister brands in its U.S. operations. Also, it expects to debut women’s fragrance from brands like Anna Sui, Guess? (GES - Free Report) , MCM and Oscar de la Renta in its U.S. operations. Apart from these, Inter Parfums plans to expand distribution of Anna Sui Sky across Asia.
Taking a look at Inter Parfums’ results for year ended Dec 31, 2020, net sales amounted to $539 million. The figure declined 24.5% from $713.5 million reported in the year-ago period. Sales in the Europe and U.S.-based operations declined 22% and 32.3%, respectively, during the same period. We note that shares of this Zacks Rank #4 (Sell) company have declined 13.4% in a year against the industry’s growth of 10.9%.
Some Solid Cosmetics Bet
Helen of Troy (HELE - Free Report) , with a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 9.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nu Skin (NUS - Free Report) , with a Zacks Rank #2, has a long-term earnings growth rate of 7.3%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year.
These 7 were selected because of their superior potential for immediate breakout.
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