RTTNews | Nov 18, 2021 07:57AM EST

07:56 Thursday, November 18, 2021 (RTTNews.com) - Coty Inc. (COTY) raised its fiscal year 2022 adjusted earnings per share guidance to $0.20-$0.24 from its previous guidance of $0.19-$0.23. Analysts polled by Thomson Reuters expect the company to report earnings of $0.24 per share for the year. Analysts' estimates typically exclude special items. The company also announced its financial goals through fiscal year 2025 and beyond.

The company said it is continuing to expand gross margin and cost savings, allowing it to reinvest into key strategic initiatives and simultaneously deliver annual profit growth, targeting an adjusted EBITDA of at a minimum $900 million for fiscal year 2022, and approaching $1 billion in 2022.

The company projects net revenues to grow 6% to 8% annually LFL through fiscal year 2025 and beyond, ahead of expected beauty market growth of 3% to 5%. It projects adjusted earnings per share to be above 30% CAGR through fiscal year 2025, with mid to high teens % growth thereafter.

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