Inter Parfums Inc. (NASDAQ:IPAR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Inter Parfums Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 101.96% to $1.03 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Rose 29.29% to $213.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Inter Parfums Inc. reported adjusted EPS income of $1.03 per share. By that measure, the company beat the mean analyst estimate of $0.60. It missed the average revenue estimate of $213.85 million.
Quoting Management: Jean Madar, Chairman & CEO of Inter Parfums commented, “Sales of our ongoing prestige brands posted strong growth during the first quarter. Excluding Burberry from both the current and prior year quarters, European-based sales were up 15.5% year-over-year to $85.5 million. Sales of Jimmy Choo fragrances benefitted from the successful launch of Flash, which contributed to the 50% comparable quarter increase for the brand. Lanvin sales rose 18% driven by continued growth from Eclat d’Arpège along with the launch of Lanvin Me and the steady performance by Jeanne Lanvin. Sales of Montblanc Legend fragrances continued to perform exceptionally well resulting in a 39% increase in brand sales. Finally, our association with Burberry fragrances ended on a high note, with a 53% increase in first quarter sales.”
Key Stats (on next page)…
Revenue increased 20.84% from $176.93 million in the previous quarter. EPS increased 312% from $0.25 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.13 to a profit $0.12. For the current year, the average estimate has moved up from a profit of $0.92 to a profit of $1.03 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)