Inter Parfums Lifts FY Outlook; Shares Up 5%

(RTTNews) - Shares of Inter Parfums Inc. (IPAR) gained nearly 5% in after-hours on Wednesday after the company raised its guidance for full year, citing "better-than-expected fourth quarter sales."

The company now expects full-year 2022 sales of $1.08 billion, up from previous sales guidance of $1.025 billion. The company now expects earnings per share of about $3.60, up from prior estimate of $3.40.

Analysts polled by Thomson Reuters currently estimate earnings of $3.40 per share on revenues of $1.03 billion for 2022.

Inter Parfums plans to announce final 2022 sales on or about January 23, 2023 and full year results on or about February 28, 2023.

CEO Jean Madar said, "The final quarter of the year was exceptionally strong for both our U.S. and European based operations. 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."

Analysts currently estimate earnings of $3.70 per share on revenues of $1.11 billion for 2023.