COTY INC. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>COTY INC. has filed its Q3 2024 10-Q report, detailing financial performance and equity changes.</b>

AI Summary

COTY INC. (COTY) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. COTY INC. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the third quarter of fiscal year 2024. Key financial data from previous periods and the current reporting period are included. The report details changes in various equity accounts, including common stock and retained earnings. The company's fiscal year ends on June 30th.

Why It Matters

For investors and stakeholders tracking COTY INC., this filing contains several important signals. This filing provides investors with the latest financial snapshot of COTY INC., crucial for understanding its performance and financial health. The detailed equity information allows for analysis of capital structure changes and shareholder value over the reported periods.

Risk Assessment

Risk Level: — COTY INC. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new financial performance data or strategic shifts that would indicate high risk.

Analyst Insight

Monitor future earnings reports for specific revenue and profit figures to assess COTY INC.'s ongoing financial performance.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-07 — Filing Date (10-Q filing)
• 2024 — Fiscal Year (Third quarter of fiscal year 2024)

Key Players & Entities

• COTY INC. (company) — Filer of the 10-Q report
• 2024-03-31 (date) — End of the reporting period
• 2024-05-07 (date) — Filing date of the report
• 2024-06-30 (date) — Fiscal year end date

FAQ

Industry Context

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

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion.
2. Compare the reported equity changes with previous filings to identify trends.
3. Note the fiscal year end of June 30th for future financial reporting context.

Key Dates

• 2024-03-31: Quarterly Period End — End date for the financial data presented in the 10-Q.
• 2024-05-07: Filing Date — Date COTY INC. submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q for the period ending March 31, 2024, providing updated financial information compared to 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-20240331.htm (10-Q) — 2451KB
• exhibit101gvbagreement.htm (EX-10.1) — 42KB
• 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
• 0001024305-24-000023.txt (&nbsp;) — 12146KB
• coty-20240331.xsd (EX-101.SCH) — 79KB
• coty-20240331_cal.xml (EX-101.CAL) — 108KB
• coty-20240331_def.xml (EX-101.DEF) — 417KB
• coty-20240331_lab.xml (EX-101.LAB) — 945KB
• coty-20240331_pre.xml (EX-101.PRE) — 681KB
• coty-20240331_htm.xml (XML) — 1861KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 62 Item 4.

Controls and Procedures

Controls and Procedures 62 Part II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 63 Item 1A.

Risk Factors

Risk Factors 63 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 63 Item 5. Other Information 63 Item 6. Exhibits 64

Signatures

Signatures 65 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 March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Net revenues $ 1,385.6 $ 1,288.9 $ 4,754.6 $ 4,202.5 Cost of sales 487.8 478.1 1,690.8 1,504.7 Gross profit 897.8 810.8 3,063.8 2,697.8 Selling, general and administrative expenses 770.6 720.4 2,371.4 2,145.4 Amortization expense 48.5 48.2 145.4 143.1 Restructuring costs 0.9 ( 1.3 ) 35.0 ( 5.4 ) Operating income 77.8 43.5 512.0 414.7 Interest expense, net 60.4 58.8 190.3 185.7 Other expense (income), net 14.0 ( 156.9 ) 9.8 ( 397.0 ) Income before income taxes 3.4 141.6 311.9 626.0 (Benefit) provision for income taxes ( 5.4 ) 29.8 106.9 138.3 Net income 8.8 111.8 205.0 487.7 Net income (loss) attributable to noncontrolling interests 2.4 1.0 4.0 ( 0.4 ) Net income attributable to redeemable noncontrolling interests 2.6 2.4 14.7 12.8 Net income attributable to Coty Inc. $ 3.8 $ 108.4 $ 186.3 $ 475.3 Amounts attributable to Coty Inc. Net income attributable to Coty Inc. 3.8 108.4 186.3 475.3 Convertible Series B Preferred Stock dividends ( 3.3 ) ( 3.3 ) ( 9.9 ) ( 9.9 ) Net income attributable to common stockholders $ 0.5 $ 105.1 $ 176.4 $ 465.4 Earnings per common share: Earnings per common share - basic $ — $ 0.12 0.20 0.55 Earnings per common share - diluted — 0.12 0.20 0.54 Weighted-average common shares outstanding: Basic 883.1 851.6 876.7 848.1 Diluted 892.0 865.2 886.1 885.8 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 March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Net income $ 8.8 $ 111.8 $ 205.0 $ 487.7 Other comprehensive income (loss): Foreign currency translation adjustment ( 104.1