IPAR - Inter Parfums sees Q2 revenue above estimates and raises full year guidance

Inter Parfums (IPAR) sees Q2 revenues of $207.6M vs. consensus of $151.31M, vs. $49.5M a year ago and up 24.9% from the second quarter of 2019.Russell Greenberg, Executive Vice President & CFO noted, “Based upon a very strong first half and a better than previously expected second half, we have once again raised our 2021 guidance. We are now looking for net sales of ~$750 million vs. consensus of $711.46M resulting in diluted net income per share of $1.95 vs. consensus of $1.65. Our previous guidance called for net sales of $700 million and diluted net income per share of $1.65. Full Q2 results are expected to be announced on or about August 9, 2021.

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Inter Parfums sees Q2 revenue above estimates and raises full year guidance