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Sep 30, 2021
Inter Parfums Q3 2021 Earnings Report
Inter Parfums reported exceptional Q3 2021 results, with significant sales and EPS increases compared to 2019.
Key Takeaways
Inter Parfums Inc. reported its Q3 2021 results, showcasing a substantial increase in sales and EPS compared to 2019. The company's largest brands performed exceptionally well, contributing to the strong top-line growth. The company raised 2021 guidance three times.
Net sales rose 25% to $669 million for the first nine months of 2021 compared to 2019.
Net income attributable to Inter Parfums, Inc. rose 70% to $89 million year-to-date compared to 2019.
Diluted earnings per share were $2.79 for the nine months ended September 30, 2021, an increase of 70% compared to 2019.
North America, the company's largest market, saw sales increase by 140% and 67% compared to the same period in 2020 and 2019, respectively.
Forward Guidance
Inter Parfums expects net sales of approximately $810 million and diluted net income per share of $2.35 for the full year 2021. The company plans a significant investment in advertising and promotion in the fourth quarter to support retail sell-through during the holiday season.
Positive Outlook
- New product pipeline is in the works for 2022.
- Debuting scents for Moncler will rollout in early 2022.
- New men’s fragrance pillars are debuting for Coach, GUESS and Boucheron.
- Flankers will be introduced for Montblanc Legend, the Coach women’s signature scent, Jimmy Choo’s I Want Choo, GUESS Bella Vita, and Lanvin Éclat d’ Arpège.
- Newly signed license for Ferragamo, which went effective on October 1, 2021, will be a leading growth catalyst.
Challenges Ahead
- Guidance assumes that the average dollar/euro average exchange rate remains at current levels.
- Guidance assumes that there is no significant resurgence of the COVID-19 pandemic.
- Supply chain issues may affect results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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