IPAR - Inter Parfums reports Q2 results

2023-07-24 16:52:38 ET

• Inter Parfums press release ( NASDAQ: IPAR ): Q2 Revenue of $309M (+26.1% Y/Y) beats by $27.18M .
• Increases 2023 Sales Guidance: Michel Atwood, Chief Financial Officer noted, “The healthy fragrance market and ongoing consumer demand, combined with most of our brands outperforming and gaining market share, enables us to again raise our 2023 net sales guidance to $1.3 billion, up from $1.25 billion, originally communicated in April 2023.
• “The increase in our sales guidance does not yet include initial sales of the newly acquired fragrance licenses, Roberto Cavalli and Lacoste. Robert Cavalli fragrances are expected to start shipping in November/December 2023 and Lacoste fragrances are expected to kick-off in 2024.
• “We will revise our guidance for net income per diluted share when we release our full second quarter results on August 8, 2023. Guidance assumes that the average dollar/euro exchange rate remains at current levels, and there is no significant resurgence of the COVID-19 pandemic.”.
• Shares +3.09% .

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