Coty Inc (COTY) Q2 2020 Earnings Snapshot

— Coty Inc.’s (NYSE: COTY) second quarter 2020 adjusted EPS rose 13% year-over-year to $0.27 vs. $0.24 expected.

— Revenue decreased 6.6% to $2.35 billion vs. $2.34 billion expected.

— GAAP net loss of $21.1 million or $0.03 per share improved from $960.6 million or $1.28 per share in Q2 2019.

— For FY20, Coty continues to expect adjusted EPS to grow in mid-single digits.

— Luxury segment revenue inched down 0.1% to $1.02 billion.

— Consumer Beauty segment revenue declined 17.4% to $799.7 million.

— Professional Beauty segment revenue edged up by 0.6% to $528.8 million.

— COTY shares have gained 7% in the pre-market session immediately after the earnings announcement.

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