COTY INC. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>COTY INC. has submitted its quarterly 10-Q filing for the period ending December 31, 2023, detailing financial performance and position.</b>

AI Summary

COTY INC. (COTY) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. COTY INC. filed a 10-Q report for the period ending December 31, 2023. The filing covers the fiscal second quarter of 2024. The report details financial information as of December 31, 2023, and for the three and six months then ended. Key financial statement components like common stock, retained earnings, and accumulated other comprehensive income are presented. The filing includes data for the periods October 1, 2023, to December 31, 2023, and July 1, 2023, to December 31, 2023.

Why It Matters

For investors and stakeholders tracking COTY INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of COTY INC., crucial for understanding its performance in the second quarter of fiscal year 2024. The detailed financial data, including equity and retained earnings, allows for analysis of the company's financial health and operational results during the reporting period.

Risk Assessment

Risk Level: low — COTY INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain new or significant risk-altering information beyond standard disclosures.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to assess COTY INC.'s performance and identify any emerging trends or risks.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-08 — Filing Date (Filed as of date)
• 2023-12-31 — Balance Sheet Date (Financial statement date)
• 2023-09-30 — Previous Balance Sheet Date (Financial statement date)
• 2023-06-30 — Prior Year Balance Sheet Date (Financial statement date)

Key Players & Entities

• COTY INC. (company) — Filer name
• 2023-12-31 (date) — Period of report
• 2024-02-08 (date) — Filed as of date
• 212-389-7300 (phone_number) — Business phone number

FAQ

Industry Context

COTY INC. operates in the perfumes, cosmetics, and other toiletries preparations industry.

Regulatory Implications

The filing is a standard 10-Q, a quarterly report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the balance sheet details for December 31, 2023, focusing on changes in equity accounts.
2. Examine the financial data presented for the three and six-month periods ending December 31, 2023.
3. Compare the current period's financial figures with prior periods as presented in the filing to identify performance trends.

Key Dates

• 2023-12-31: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-02-08: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the quarterly update for COTY INC. as of December 31, 2023, following previous filings.

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 par value COTY New York Stock Exchange

Filing Documents

• coty-20231231.htm (10-Q) — 2178KB
• exhibit311-certificationof.htm (EX-31.1) — 13KB
• exhibit312-certificationof.htm (EX-31.2) — 13KB
• exhibit321-certificationof.htm (EX-32.1) — 5KB
• exhibit322-certificationof.htm (EX-32.2) — 5KB
• 0001024305-24-000007.txt (&nbsp;) — 11765KB
• coty-20231231.xsd (EX-101.SCH) — 79KB
• coty-20231231_cal.xml (EX-101.CAL) — 108KB
• coty-20231231_def.xml (EX-101.DEF) — 423KB
• coty-20231231_lab.xml (EX-101.LAB) — 1034KB
• coty-20231231_pre.xml (EX-101.PRE) — 679KB
• coty-20231231_htm.xml (XML) — 1827KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 4.

Controls and Procedures

Controls and Procedures 57 Part II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 57 Item 1A.

Risk Factors

Risk Factors 57 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 57 Item 5. Other Information 57 Item 6. Exhibits 58

Signatures

Signatures 59 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements COTY INC. & SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data ) (Unaudited ) Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Net revenues $ 1,727.6 $ 1,523.6 $ 3,369.0 $ 2,913.6 Cost of sales 603.5 525.3 1,203.0 1,026.6 Gross profit 1,124.1 998.3 2,166.0 1,887.0 Selling, general and administrative expenses 833.4 754.3 1,600.8 1,425.0 Amortization expense 48.3 47.6 96.9 94.9 Restructuring costs 5.7 ( 2.9 ) 34.1 ( 4.1 ) Operating income 236.7 199.3 434.2 371.2 Interest expense, net 60.1 61.0 129.9 126.9 Other income, net ( 80.8 ) ( 141.9 ) ( 4.2 ) ( 240.1 ) Income before income taxes 257.4 280.2 308.5 484.4 Provision for income taxes 71.4 38.8 112.3 108.5 Net income 186.0 241.4 196.2 375.9 Net income (loss) attributable to noncontrolling interests 0.5 ( 1.4 ) 1.6 ( 1.4 ) Net income attributable to redeemable noncontrolling interests 4.6 4.5 12.1 10.4 Net income attributable to Coty Inc. $ 180.9 $ 238.3 $ 182.5 $ 366.9 Amounts attributable to Coty Inc. Net income attributable to Coty Inc. 180.9 238.3 182.5 366.9 Convertible Series B Preferred Stock dividends ( 3.3 ) ( 3.3 ) ( 6.6 ) ( 6.6 ) Net income attributable to common stockholders $ 177.6 $ 235.0 $ 175.9 $ 360.3 Earnings per common share: Earnings per common share - basic $ 0.20 $ 0.28 0.20 0.43 Earnings per common share - diluted 0.20 0.27 0.20 0.42 Weighted-average common shares outstanding: Basic 892.8 850.8 873.6 846.4 Diluted 922.8 886.8 883.3 884.5 See notes to Condensed Consolidated Financial Statements. 1 Table of Contents COTY INC. & SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In millions) (Unaudited ) Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Net income $ 186.0 $ 241.4 $ 196.2 $ 375.9 Other comprehensive income (loss): Foreign currency translation