Inter Parfums raises guidance on strong U.S., Europe operations
Inter Parfums Inc. announced on Wednesday it is raising its guidance for year ended December 31, 2022, on the back of better-than-expected fourth quarter sales.
The global fragrance maker and distributor said it now expects full-year 2022 net sales to hit $1.08 billion, up from its previous guidance of $1.025 billion.
With the increase in sales and concurrent operating leverage, diluted earnings per share should approximate $3.60, up from $3.40, the prior estimate.
As a result, the company said it is looking for a 23% increase in net sales and a 31% increase in diluted earnings per share as compared to 2021.
“The final quarter of the year was exceptionally strong for both our U.S. and European based operations," said Jean Madar, chairman and chief executive officer of Inter Parfums, Inc.
"Indicators and order levels point to a continuation of strong sales growth in 2023, which enables us to also increase our sales guidance for 2023 from $1.11 billion to $1.15 billion and diluted earnings per share from $3.70 to $3.75.”
The company, who has fragrance license agreements with Guess, DKNY and Coach, among others, said it plans to announce final 2022 sales on or about January 23, and full year results on or about February 28.
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