Business
Inter Parfums, Inc. Reports 2021 Third Quarter Results
Compared to 2019, 37% Increase in Sales and 82% Increase in EPS NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for
About this update from Interparfums, Inc.
[{"type":"text","content":"\nCompared to 2019, 37% Increase in Sales and 82% Increase in EPS\n\n NEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the third quarter ended September 30, 2021.\n\nThird Quarter Highlights:\n\n\n\n\n($ in millions, except per share data)\n\n\n\n\n\n2021\n\n\n\n\n\n2020\n\n\n\n\n\n2019\n\n\n\n\n\n2021 v 2019\n\n\n\n\n\n\n\nNet Sales\n\n\n\n\n\n$263\n\n\n\n\n\n$161\n\n\n\n\n\n$191\n\n\n\n\n\n37%\n\n\n\n\n\n\n\nGross Margin\n\n\n\n\n\n64%\n\n\n\n\n\n61%\n\n\n\n\n\n60%\n\n\n\n\n\n400 bps\n\n\n\n\n\n\n\nOperating Income\n\n\n\n\n\n$68\n\n\n\n\n\n$31\n\n\n\n\n\n$37\n\n\n\n\n\n85%\n\n\n\n\n\n\n\nOperating Margin\n\n\n\n\n\n26%\n\n\n\n\n\n20%\n\n\n\n\n\n19%\n\n\n\n\n\n700 bps\n\n\n\n\n\n\n\nNet Income attributable to IP\n\n\n\n\n\n$38\n\n\n\n\n\n$17\n\n\n\n\n\n$21\n\n\n\n\n\n84%\n\n\n\n\n\n\n\nDiluted EPS\n\n\n\n\n\n$1.20\n\n\n\n\n\n$0.52\n\n\n\n\n\n$0.66\n\n\n\n\n\n82%\n\n\n\n\n\nIn light of the near cessation of business in the second quarter of 2020, the Company is comparing its current nine month results with those of 2019. For the first nine months of 2021, net sales rose 25% to $669 million from $536 million in the same period of 2019. Year-to-date net income attributable to Inter Parfums, Inc. rose 70% to $89 million compared to 2019’s $52 million. For the nine months ended September 30, 2021 and 2019, diluted earnings per share were $2.79 and $1.64, respectively, for an increase of 70%.\n\nJean Madar, Chairman & CEO of Inter Parfums, Inc. noted, “As we reported last month, our largest brands, notably Montblanc, Jimmy Choo, Coach, GUESS and Lanvin performed exceptionally well in the current third quarter turning in gains of 26%, 40%, 98%, 27%, and 37%, respectively, as compared to 2019’s third quarter. Year-to-date, these brands generated sales increases of 11%, 39%, 56%, 44% and 12%, respectively, versus the first nine months of 2019.”\n\nDiscussing year-to-date growth in the Company’s major markets, Mr. Madar stated, “North America, our largest market, leads the way with sales up 140% and 67% compared to the same period in 2020 and 2019, respectively. Gains were also achieved in Western Europe where sales rose 38% and 6% from the first nine months of 2020 and 2019, respectively. Thus far this year, sales in Asia are running 72% and 10% ahead of 2020 and 2019. Other markets includin...