IPAR - Inter Parfums raises 2021 outlook on continued strength in European operations

Inter Parfums (NASDAQ:IPAR) has raised its 2021 sales guidance to a record $840M (consensus: $817.36M) and EPS to $2.45 per diluted share. Prior guidance called for an EPS of $2.35 per diluted share and net sales of $810M. The raised guidance, fourth since the firm announced initial guidance on December 1, 2020, was attributed to its European operations, where despite continuing supply chain disruptions, the pace of deliveries has remained high in recent weeks, driven by sustained customer demand. Jean Madar, Chairman and CEO of Inter Parfums, commented, "While our growth has been stronger than expected during the last few months of this year, in light of the current lack of visibility, we have decided for the time being to maintain our 2022 guidance with net sales in the range of $925 and $950M, resulting in net income per diluted share of between $2.80 and $2.85." The consensus estimates for

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Inter Parfums raises 2021 outlook on continued strength in European operations