$COTY
COTY INC.

2024 Q1 Form 10-Q Financial Statement

#000102430524000007 Filed on February 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $1.386B $1.728B
YoY Change 7.5% 13.39%
Cost Of Revenue $487.8M $603.5M
YoY Change 2.03% 14.89%
Gross Profit $897.8M $1.124B
YoY Change 10.73% 12.6%
Gross Profit Margin 64.8% 65.07%
Selling, General & Admin $770.6M $833.4M
YoY Change 6.97% 10.49%
% of Gross Profit 85.83% 74.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $104.4M $105.4M
YoY Change -2.79% 1.54%
% of Gross Profit 11.63% 9.38%
Operating Expenses $770.6M $833.4M
YoY Change 6.97% 10.49%
Operating Profit $77.80M $236.7M
YoY Change 78.85% 18.77%
Interest Expense $58.80M $61.70M
YoY Change -9.82% -5.08%
% of Operating Profit 75.58% 26.07%
Other Income/Expense, Net -$14.00M $80.80M
YoY Change -108.92% -43.06%
Pretax Income $3.400M $257.4M
YoY Change -97.6% -8.14%
Income Tax -$5.400M $71.40M
% Of Pretax Income -158.82% 27.74%
Net Earnings $3.800M $180.9M
YoY Change -96.49% -24.09%
Net Earnings / Revenue 0.27% 10.47%
Basic Earnings Per Share $0.00 $0.20
Diluted Earnings Per Share $0.00 $0.20
COMMON SHARES
Basic Shares Outstanding 895.2M shares 891.7M shares
Diluted Shares Outstanding 892.0M shares 922.8M shares

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $260.2M $450.0M
YoY Change 6.2% 60.26%
Cash & Equivalents $260.2M $450.0M
Short-Term Investments
Other Short-Term Assets $485.8M $695.9M
YoY Change 3.23% 46.97%
Inventory $759.7M $775.5M
Prepaid Expenses
Receivables $479.9M $500.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.986B $2.422B
YoY Change 3.71% 27.03%
LONG-TERM ASSETS
Property, Plant & Equipment $703.4M $705.9M
YoY Change 0.89% 2.5%
Goodwill $3.965B $4.022B
YoY Change -0.23% 2.59%
Intangibles $3.633B $3.740B
YoY Change -5.72% -2.82%
Long-Term Investments $1.087B $1.084B
YoY Change 3.5% 3.2%
Other Assets $97.60M $155.3M
YoY Change -66.19% 33.08%
Total Long-Term Assets $10.34B $10.59B
YoY Change -4.21% 0.43%
TOTAL ASSETS
Total Short-Term Assets $1.986B $2.422B
Total Long-Term Assets $10.34B $10.59B
Total Assets $12.32B $13.02B
YoY Change -3.02% 4.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.250B $1.463B
YoY Change -11.2% -1.8%
Accrued Expenses $1.151B $1.256B
YoY Change -1.34% 1.24%
Deferred Revenue
YoY Change
Short-Term Debt $1.500M $6.000M
YoY Change
Long-Term Debt Due $2.900M $2.900M
YoY Change -95.75% -95.74%
Total Short-Term Liabilities $2.476B $2.851B
YoY Change -10.19% -2.22%
LONG-TERM LIABILITIES
Long-Term Debt $3.902B $3.683B
YoY Change -7.64% -8.25%
Other Long-Term Liabilities $328.0M $343.1M
YoY Change 8.93% 11.87%
Total Long-Term Liabilities $4.230B $4.026B
YoY Change -6.54% -6.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.476B $2.851B
Total Long-Term Liabilities $4.230B $4.026B
Total Liabilities $7.904B $8.158B
YoY Change -7.76% -4.25%
SHAREHOLDERS EQUITY
Retained Earnings -$4.802B -$4.805B
YoY Change -4.37% -6.31%
Common Stock $9.600M $9.600M
YoY Change 5.49% 5.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.993B $4.425B
YoY Change
Total Liabilities & Shareholders Equity $12.32B $13.02B
YoY Change -3.02% 4.51%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $3.800M $180.9M
YoY Change -96.49% -24.09%
Depreciation, Depletion And Amortization $104.4M $105.4M
YoY Change -2.79% 1.54%
Cash From Operating Activities -$170.0M $421.9M
YoY Change 36.44% -12.51%
INVESTING ACTIVITIES
Capital Expenditures $64.30M $58.90M
YoY Change 19.29% 117.34%
Acquisitions
YoY Change
Other Investing Activities $22.20M $1.700M
YoY Change 1485.71% -97.01%
Cash From Investing Activities -$42.10M -$57.20M
YoY Change -19.81% -291.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.80M -207.3M
YoY Change -84.32% -53.81%
NET CHANGE
Cash From Operating Activities -170.0M 421.9M
Cash From Investing Activities -42.10M -57.20M
Cash From Financing Activities 21.80M -207.3M
Net Change In Cash -190.3M 157.4M
YoY Change 399.48% 149.05%
FREE CASH FLOW
Cash From Operating Activities -$170.0M $421.9M
Capital Expenditures $64.30M $58.90M
Free Cash Flow -$234.3M $363.0M
YoY Change 31.26% -20.24%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Fiscal Period
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The Company operates on a fiscal year basis with a year-end of June 30. Unless otherwise noted, any reference to a year preceded by the word “fiscal” refers to the fiscal year ended June 30 of that year. For example, references to “fiscal 2024” refer to the fiscal year ending June 30, 2024.
us-gaap Effective Income Tax Rate Continuing Operations
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<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Significant accounting policies that contain subjective management estimates and assumptions include those related to revenue recognition, the net realizable value of inventory, the fair value of equity investments, the assessment of goodwill, other intangible assets and long-lived assets for </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">impairment and income taxes. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates and assumptions. Significant changes, if any, in those estimates and assumptions will be reflected in the Condensed Consolidated Financial Statements in future periods.</span></div>
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66800000 usd
CY2023Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
180900000 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
238300000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
182500000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
366900000 usd
CY2023Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3300000 usd
CY2022Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3300000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6600000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6600000 usd
CY2023Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
177600000 usd
CY2022Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
235000000.0 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
175900000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
360300000 usd
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
892800000 shares
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
850800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
873600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
846400000 shares
CY2023Q4 coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsStockOptions
0 shares
CY2022Q4 coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsStockOptions
0 shares
coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsStockOptions
100000 shares
coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsStockOptions
0 shares
CY2023Q4 coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Restricted Stock And Restricted Stock Units Rs Us
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsRestrictedStockAndRestrictedStockUnitsRSUs
6300000 shares
CY2022Q4 coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Restricted Stock And Restricted Stock Units Rs Us
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsRestrictedStockAndRestrictedStockUnitsRSUs
12300000 shares
coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Restricted Stock And Restricted Stock Units Rs Us
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsRestrictedStockAndRestrictedStockUnitsRSUs
9600000 shares
coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Restricted Stock And Restricted Stock Units Rs Us
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsRestrictedStockAndRestrictedStockUnitsRSUs
14400000 shares
CY2023Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
23700000 shares
CY2022Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
23700000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
23700000 shares
CY2023Q4 coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Forward Repurchase Contracts
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsForwardRepurchaseContracts
0 shares
CY2022Q4 coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Forward Repurchase Contracts
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsForwardRepurchaseContracts
0 shares
coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Forward Repurchase Contracts
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsForwardRepurchaseContracts
0 shares
coty Incremental Common Shares Attributable To Dilutive Effect Of Share Based Payment Arrangements Forward Repurchase Contracts
IncrementalCommonSharesAttributableToDilutiveEffectOfShareBasedPaymentArrangementsForwardRepurchaseContracts
0 shares
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
922800000 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
886800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
883300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
884500000 shares
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
CY2023Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3300000 usd
CY2022Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3300000 usd
CY2023Q4 coty Antidilutive Securities Excluded From Fair Market Value Adjustments
AntidilutiveSecuritiesExcludedFromFairMarketValueAdjustments
44400000 usd
CY2022Q4 coty Antidilutive Securities Excluded From Fair Market Value Adjustments
AntidilutiveSecuritiesExcludedFromFairMarketValueAdjustments
44300000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6600000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6600000 usd
coty Antidilutive Securities Excluded From Fair Market Value Adjustments
AntidilutiveSecuritiesExcludedFromFairMarketValueAdjustments
200000 usd
coty Antidilutive Securities Excluded From Fair Market Value Adjustments
AntidilutiveSecuritiesExcludedFromFairMarketValueAdjustments
6800000 usd
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
102200000 usd
CY2023Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
93500000 usd
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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coty-20231231_cal.xml Edgar Link unprocessable