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Coty Misses Q3 Earnings Estimate, But Says Supply-Chain Problems Behind It

Martin Baccardax

posted weaker-than-expected third quarter earnings Wednesday but confirmed its full-year outlook and said its recent supply-chain disruptions had been addressed by its new management team. The Cover Girl and Rimmel brand maker said it posted a loss of 2 cents per share for the three months ending in March, the group's fiscal third quarter, down 80% from the same period last year and 2 cents shy of the Street consensus forecast. On an adjusted basis, Coty earned 12 cents per share, beating comparable estimates by a penny.