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Coty
Coty (COTY) investor relations material
Coty Q2 2026 [Q&A] earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 [Q&A] earnings summary6 Feb, 2026
Executive summary
Leadership transition with Markus Strobel as Executive Chairman and Interim CEO, and a new strategic framework emphasizing discipline, focus, and operational improvement.
Strategic reset in Consumer Beauty, sharper portfolio focus, and increased digital investment, while Prestige leverages new launches and channel expansion.
Sequential improvement in like-for-like sales in Q2 FY26, though both Prestige and Consumer Beauty remain negative year-over-year.
Net revenues for Q2 FY26 up 1% reported to $1,678.6M, with significant debt reduction following the Wella divestiture.
Ongoing strategic review of Consumer Beauty and reallocation of resources to core businesses.
Financial highlights
Q2 FY26 adjusted EBITDA was ~$330M (19.7% margin), down 15% year-over-year; adjusted operating income $274.3M (16.3% margin), down 18%.
Q2 reported net loss was $126.9M, mainly due to a $201.9M loss on the Wella sale; adjusted net income was $119.7M, up 21%.
Gross margin for Q2 declined by 290 basis points to 63.8%, pressured by promotions, tariffs, and higher costs.
Free cash flow for Q2 was $513.1M, with FYTD at $524M, supported by working capital management.
Leverage ratio at 2.7x, the lowest in over nine years, with significant debt reduction from Wella proceeds.
Outlook and guidance
Q3 FY26 revenue expected to decline mid-single digits LFL, mainly from Consumer Beauty weakness, with FX providing a benefit.
Q3 adjusted EBITDA expected between $100M–$110M, with continued gross margin headwinds and negative free cash flow due to seasonality and tax payments.
Full-year FY26 EBITDA and free cash flow guidance withdrawn due to market complexity and leadership transition.
Cost reduction efforts re-accelerated, targeting $80M–$200M in FY26.
Consumer Beauty margin and profitability improvements anticipated in fiscal 2027 as innovation and cost actions materialize.
Detail 'Coty. Curated.' execution and investment shifts
Outline Consumer Beauty plan's impact and timeline
Explain US prestige fragrance market share trends
Consumer Beauty margin recovery drivers beyond volume?
Gucci exit: revenue compensation target?
Data/AI investment for operational discipline impact?
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Next Coty earnings date
Q3 20266 May, 2026
Coty
Next Coty earnings date
Q3 20266 May, 2026
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Frequently asked questions
Beauty Experts
Coty Inc. is an important player in the worldwide beauty industry. The company owns and operates a large number of brands within areas such as perfumes, skincare, cosmetics, and similar products. Founded in 1904 by François Coty in Paris, France, the company has an intriguing history and an expansive portfolio of well-known brands that have cemented them as one of the biggest players in the industry.
From a Fragrance Producer to a Beauty Empire
François Coty started his journey in the beauty industry by selling perfume. The French businessman revolutionized the world of perfumes by combining natural and synthetic scents to create distinct and appealing fragrances. His first fragrance, La Rose Jacqueminot, was an instant success and set the stage for Coty to expand his operations and reach.
Coty's knack for capturing the consumer's desire and transforming it into tangible products propelled the company's growth. François Coty is also credited with understanding the importance of packaging, investing in beautifully designed bottles that added to the allure of his fragrances. Over time, Coty expanded its product line to include skincare, cosmetics, and other beauty products and continued the journey toward their current market position where they compete with brands like Estée Lauder, L'Oréal, and Ulta Beauty.
A Portfolio of Iconic Brands
Today, Coty is a multinational beauty company selling products in over 150 countries. The company owns more than 70 brands, which are divided into three divisions: Luxury, Professional Beauty, and Consumer Beauty. The Luxury division comprises prestige fragrance, skincare, and cosmetics brands. The Professional Beauty division focuses on servicing salon owners and professionals in both hair and nail. In contrast, the Consumer Beauty division targets broader consumer markets with a focus on color cosmetics, retail hair coloring, and styling products, body care, and mass fragrances.
Coty's brand portfolio includes household names like CoverGirl, Rimmel, Max Factor, and Sally Hansen, among many others. Each brand under Coty's umbrella has a unique identity and caters to different consumer demands and wants, which in turn helps the company to cover a broad spectrum of the beauty market.
Constantly Improving
Coty has always been at the forefront of innovation. With a rich history of pioneering new beauty products, Coty is a driving force in developing and shaping the beauty industry. The company places a large focus on Research and Development with centers worldwide working to create modern beauty products. Several celebrities have also teamed up with Coty to produce lines of beauty products, something that has been appreciated by customers and is highly profitable for Coty.
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