BUZZ-Coty drops as it withdraws guidance under new CEO

Reuters05:40

** Shares of Covergirl parent Coty COTY.N down ~7% at $2.92 after the bell

** Co withdraws full-year forecast with new interim CEO Markus Strobel calling for improved discipline and execution to turn around sluggish financial performance

** Expects Q3 adjusted EBITDA to fall to $100-$110 million, below analysts' average forecast of $201.6 million, per data compiled by LSEG

** Sees Q3 revenue declining by a mid-single-digit percentage, compared to analysts' average estimate of a 2.9% rise

** Posts Q2 revenue of $1.68 billion vs estimates of $1.66 billion

** Stock fell 55% in 2025

(Reporting by Koyena Das in Bengaluru)

((koyena.das@thomsonreuters.com))

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