Coty drops, co withdraws full-year guidance under new CEO
ReutersFeb 5, 2026 11:11 PM
Shares of Covergirl parent Coty COTY.N down 17% at $2.61 after the bell
Co withdraws full-year forecast with new interim CEO Markus Strobel calling for improved discipline and execution to turn around sluggish financial performance
Expects Q3 adjusted EBITDA to fall to $100 million-$110 million, below analysts' average forecast of $201.6 million, per data compiled by LSEG
Sees Q3 revenue declining by a mid-single-digit percentage, compared to analysts' average estimate of a 2.9% rise
Posts Q2 revenue of $1.68 billion vs estimates of $1.66 billion
Stock fell 55% in 2025
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