Coty (NYSE:COTY) stock added 1% in early Thursday trading after the company boosted its full-year forecast at the first-ever investor event today in Paris, France.
The company said it expects adjusted Ebitda to come in between $965 million and $970 million, up from the prior forecast of $955-965M. Analysts were expecting an adjusted Ebitda of $961.4M.
Revenue growth is now seen at 12-15% on a like-for-like basis, up from the previous outlook for 10% growth.
“By combining our robust operational and financial performance and diverse team of beauty experts, we are accelerating our position as a global leader in fragrances and cosmetics. Together, we are realizing significant untapped potential in areas such as ultra-premium skincare, ultra premium scenting, China, Brazil, and Travel Retail. Uniting our beauty heritage, rooted in Paris, with cutting edge innovation and science, we will continue to create long-term value for our stakeholders,” Sue Nabi, chief executive officer of Coty, said.