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Inter Parfums, Inc. Raises 2022 and 2023 Financial Guidance
NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it is raising its guidance for year ended December 31, 2022, in light
About this update from Interparfums, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it is raising its guidance for year ended December 31, 2022, in light of better-than-expected fourth quarter sales.\n\nThe Company is now expecting full-year 2022 net sales of $1.08 billion; previous sales guidance was $1.025 billion. With the increase in sales and concurrent operating leverage, diluted earnings per share should approximate $3.60, up from $3.40, the prior estimate. Thus, management is looking for a 23% increase in net sales and a 31% increase in diluted earnings per share as compared to 2021. Inter Parfums plans to announce final 2022 sales on or about January 23, 2023 and full year results on or about February 28, 2023.\n\nJean Madar, Chairman & Chief Executive Officer of Inter Parfums, Inc. stated, “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.”\n\nAbout Inter Parfums, Inc.:\nFounded in 1982, Inter Parfums, Inc. develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Donna Karan, DKNY, Ferragamo, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, MCM, Moncler, Montblanc, Oscar de la Renta, S.T. Dupont, Ungaro and Van Cleef & Arpels. Inter Parfums is also the owner of Lanvin fragrances and the Rochas brand. Through its global distribution network, the Company’s products are sold in over 120 countries\n\nForward-Looking Statements:\nStatements in this release which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases, you can identify forward-looking statements by forward-looking words such as \"anticipate,\" \"believe,\" \"could,\" \"estimate,\" \"expect,\" \"intend,\" \"may,\" \"should,\" \"will,\" and \"would,\" or similar words. You should not rely on forward-looking statements, because ac...