Coty Inc. (NYSE:COTY) Q1 2023 Earnings Conference Call November 8, 2022 8:15 AM ET
Company Participants
Olga Levinzon – Investor Relations
Sue Nabi – Chief Executive Officer
Laurent Mercier – Chief Financial Officer
Conference Call Participants
Ashley Helgans – Jefferies
Anna Lizzul – Bank of America
Nik Modi – RBC Capital
Olivia Tong – Raymond James
Steve Powers – Deutsche Bank
Rob Ottenstein – Evercore
Chris Carey – Wells Fargo
Lauren Lieberman – Barclays
Carla Casella – JPMorgan
Olga Levinzon
Good morning and good afternoon, ladies and gentlemen. This is Olga Levinzon, Coty's Senior Vice President of Investor Relations. Thank you for joining us today for the prepared remarks portion of Coty's First Quarter Fiscal 2023 Earnings. Later this morning at approximately 8:15 a.m. Eastern, we will hold a separate live Q&A session on today's results, which you can access via our Investor Relations website. Joining me this morning for our presentation are Sue Nabi, Coty's CEO; and Laurent Mercier, Coty's CFO.
Before I hand the call over to Sue, I would like to remind you that many of the comments today may contain forward-looking statements. Please refer to Coty's earnings release and the reports filed with the SEC, where the company lists factors that could cause actual results to differ materially from these forward-looking statements. In addition, except where noted, the discussion of Coty's financial results and Coty's expectations reflect certain adjustments as specified in the non-GAAP financial measures section of the company's release. Thank you.
I will now turn it over to our CEO, Sue Nabi.
Sue Nabi
Ladies and gentlemen, the Q1 results that we have reported this morning once again reaffirm the strength and resilience of Coty's brands, teams, strategy and operating model. In the midst of a complex and dynamic external environment, Coty has delivered the ninth consecutive quarter of results in-line to ahead of expectations. At the same time, dynamics of the beauty market, in which we are a key player, remain largely unchanged since our last earnings. Beauty as a category remains resilient, at the sweet spot of being a staple in consumers' beauty routines, and a category of offer, where the innovative products and communications we bring to market directly drive demand. Coty has certainly benefited from a beauty category that has remained resilient, particularly from what we refer to as the fragrance index, as consumers turn to the mood-boosting and affordable luxury of fragrances. At the same time, we are particularly pleased that our balanced growth strategy remains in full force.