Coty reports Q2 adjusted EPS 14c, consensus 18c

Reports Q2 revenue $1.68B, consensus $1.66B. “I’m truly excited and energized to join Coty (COTY) at this pivotal moment,” said Markus Strobel, Executive Chairman and Interim Chief Executive Officer. “In my first month in the role, having visited our largest markets and key sites, it’s very clear to me that Coty has many top-notch assets and competitive advantages: highly attractive brands, best-in-class fragrance innovation capabilities, a vertically integrated business model, and a creative, entrepreneurial organization. At the same time, our financial performance over the past year and a half has been disappointing, and our current share price reflects that reality. Both things are true: Coty has outstanding assets and capabilities, yet we have not been delivering at the level we should.”