IPAR - Inter Parfums rallies after raising full-year guidance

Inter Parfums ( NASDAQ: IPAR ) traded higher in the after-hours session on Wednesday after the company boosted full-year guidance with Q4 sales reported to be higher than anticipated.

The cosmetics company is now expecting full-year 2022 sales of $1.08B vs. prior guidance for $1.025B and $1.03B consensus. The higher amount of sales and concurrent operating leverage also led to a boost in EPS guidance to $3.60 vs. $3.40 prior estimate.

Full-year sales guidance from IPAR is for for sales of $1.11B to $1.15B and EPS of $3.70 to $3.75.

Inter Parfums ( IPAR ) plans to announce final 2022 sales on or about January 23 and full year results on or about February 28.

CEO update: "The final quarter of the year was exceptionally strong for both our U.S. and European based operations. Indicators and order levels point to a continuation of strong sales growth in 2023."

Shares of IPAR rose 2.70% after-hours.

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