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Shares of Coty (NYSE:COTY) decreased 6% in pre-market trading after the company reported Q4 results.
Quarterly Results
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Earnings per share fell 387.50% year over year to ($0.46), which missed the estimate of ($0.11).
Revenue of $560,400,000 declined by 73.50% from the same period last year, which missed the estimate of $1,340,000,000.
Looking Ahead
Earnings guidance hasn't been issued by the company for now.
Revenue guidance hasn't been issued by the company for now.
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Date: Aug 27, 2020
Time: 08:00 AM
Technicals
Company's 52-week high was at $13.42
52-week low: $3.02
Price action over last quarter: down 15.47%
Company Overview
Coty is a global beauty company that sells fragrances (40% of fiscal 2019 revenue), color cosmetics (26%), hair care (25%), and skin/body care (9%). The firm licenses brands such as Calvin Klein, Hugo Boss, Gucci, and Davidoff for its fragrance portfolio. Coty's most popular color cosmetic brands are CoverGirl, Max Factor, Rimmel, OPI, and Sally Hansen. In hair care, the firm touts the Wella and Clairol brands. Francois Coty founded the firm in 1904 and it remained private until its 2013 IPO. It had focused on prestige fragrances and nail salon brands until the 2016 acquisition of Procter & Gamble's beauty care business. This nearly doubled the firm's revenue base, and launched it into consumer cosmetics and professional hair care.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.