05:03 PM EDT, 10/14/2024 (MT Newswires) -- Coty ( COTY ) reported late Monday preliminary results for Q1, including its sales rising about 4% to 5% like for like, lower than its previously estimated growth of 6%.

Coty ( COTY ) said it expects Q1 adjusted earnings before interest, taxes, depreciation, and amortization to be "roughly flat to moderately lower" from a year earlier despite strong gross margin expansion.

The company said it now expects Q2 like-for-like sales to "grow moderately, with some growth acceleration expected in H2 supported by easier prior year comparisons."

The company still expects fiscal 2025 adjusted EBITDA to increase 9% to 11% year over year.

Coty ( COTY ) said it will release Q1 results on Nov. 6.

Shares of the company fell 4% in after-hours activity.

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