Inter Parfums raises 2021 guidance again


Fragrance and cosmetics company Inter Parfums Inc. IPAR, +0.75% once again raised its 2021 outlook on Thursday, the fourth time it has done so since Dec. 1, 2020. The company now expects record net sales of $840 million and earnings per share of $2.45. The FactSet consensus is for sales of $817.4 million and EPS of $2.35. “While our growth has been stronger than expected during the last few months of this year, in light of the current lack of visibility, we have decided for the time being to maintain our 2022 guidance with net sales in the range of $925 and $950 million, resulting in net income per diluted share of between $2.80 and $2.85,” said Chief Executive Jean Madar in a statement. The FactSet consensus is for 2022 sales of $934.5 million and EPS of $2.84. Inter Parfums stock has run up 59% for the year to date while the S&P 500 index SPX, -0.42% has gained 24.8% for the period.

This article was originally published by Read the original article here.

Previous articleMetals Stocks: Gold stumbles lower Thursday as dollar strengthens
Next articleEyes on Fed with mortgage rates having barely budged in weeks


Please enter your comment!
Please enter your name here