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Sep 30, 2024
Inter Parfums Q3 2024 Earnings Report
Inter Parfums achieved record third-quarter results in 2024, driven by the strength of the global fragrance market and the addition of new brands.
Key Takeaways
Inter Parfums reported record third-quarter results for 2024, with net sales reaching $425 million, a 15% increase compared to the previous year. Diluted EPS was $1.93, up 16% from $1.66 in 2023. The company's performance was driven by the global fragrance market's strength and the successful integration of new brands.
Net sales for the third quarter reached a record $425 million, a 15% increase year-over-year.
Diluted EPS increased by 16% to $1.93, compared to $1.66 in the same period last year.
New brands, Roberto Cavalli and Lacoste, contributed 10% to the topline performance in the third quarter.
The company is affirming its 2024 guidance, projecting net sales of $1.45 billion and earnings per diluted share of $5.15.
Inter Parfums
Inter Parfums
Forward Guidance
Inter Parfums is affirming its 2024 guidance, projecting net sales of $1.45 billion and earnings per diluted share of $5.15.
Positive Outlook
- Affirms 2024 net sales guidance of $1.45 billion.
- Affirms 2024 diluted EPS guidance of $5.15.
- New product pipeline feedback from distributors and retailers is excellent.
- Expects healthy sell-out performance for the balance of the year.
- Confidence that combined sales of Roberto Cavalli and Lacoste will exceed $100 million in 2024.
Challenges Ahead
- The fragrance market, while still robust, has somewhat moderated.
- Expecting a softer landing with more sustainable growth rates next year compared to prior years.
- Foreign exchange loss of $4 million in the third quarter.
- Shifted a portion of A&P activities for European based operations planned for the third quarter into the fourth quarter.
- SG&A expenses were up 16% year-to-date, or 190 basis points as a percentage of sales.