Coty Inc. (NYSE:COTY) Q2 2024 Earnings Conference Call February 8, 2024 8:15 AM ET

Company Participants

Sue Nabi - Chief Executive Officer

Laurent Mercier - Chief Financial Officer

Conference Call Participants

Robert Ottenstein - Evercore

Oliver Chen - TD Cowen

Filippo Falorni - Citi

Olivia Tong - Raymond James

Jonathan Keypour - Bank of America

Ashley Helgans - Jefferies

Shovana Chowdhury - JPMorgan

Lauren Lieberman - Barclays

Mark Astrachan - Stifel

Operator

Hello. My name is Todd, and I'll be your conference operator today. At this time, I would like to welcome everyone to Coty's Second Quarter Fiscal 2024 Question-and-Answer Conference Call. As a reminder, this conference call is being recorded today, February 8, 2024 at 18 - sorry, 8:15 a.m. Eastern or 2:15 p.m. Central European Time. Please note that on February 7, at approximately 4:30 p.m. Eastern Time or 10:30 p.m. Central European time, Coty issued a press release and prepared remarks webcast, which can be found on its Investor Relations website.

On today's call are Sue Nabi, Chief Executive Officer; and Laurent Mercier, Chief Financial Officer.

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 for the company list 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 measurement section of the company's press release.

Question-and-Answer Session

Operator

With that, we will now open the line for questions. [Operator Instructions] Our first question will come from Robert Ottenstein with Evercore. Please go ahead.

Robert Ottenstein.

Thank you very much, and congratulations on another terrific quarter. So Sue, your outperformance in Prestige Fragrances was really impressive. Two questions on that. How much of that outperformance is attributable to new brand launches?

And then second, as Prestige Fragrance, as the Prestige Fragrance market normalizes, can you continue your outperformance? And if so, what gives you the confidence to be able to do that? Thank you.

Sue Nabi

Yes. Good morning, Rob. Thank you very much for your kind words. Indeed, it's a very good quarter, specifically driven by the Prestige performance. The outperformance in this division has been achieved, thanks to a very good, I have to say, balance of new launches and strong performance of the base business, which is also supported by the halo from the launches.