Coty Announces Strategic Partnership with KKR; Reports 3Q Fiscal Results
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Coty (COTY) Misses Q3 EPS by 7c, Announces Strategic Transaction with KKR
May 11, 2020 6:34 AM EDTCoty (NYSE: COTY) reported Q3 EPS of ($0.08), $0.07 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $1.53 billion versus the consensus estimate of $1.53 billion.
Medium Term Outlook
Assuming the successful completion of the KKR partnership, Cotys expanded $700 million fixed cost reduction program will make the Company more competitive. Coty continues to target operating margins in the mid-teens by FY23.
Strategic... More
