L'Oreal Shares Rise on 3Q Sales Beat, Outweighing Cost-Inflation Concerns
22 10월 2021 - 4:58PM
Dow Jones News
By Giulia Petroni
L'Oreal's shares rose on Friday after the company reported a
strong beat in third-quarter sales across the board, suggesting
operating leverage would more than compensate for cost
inflation.
The French cosmetics and consumer-products company's quarterly
sales were up 13.1% organically, compared to consensus expectations
of 7.6%. The beat was driven by the active, professional and luxe
divisions.
At 0725GMT, shares trade 6.5% higher at EUR393.30.
According to analysts at Citi, the quarterly performance shows
the company is able to rebalance its growth drivers geographically,
with a broadbase expansion category-wise that should lead to a
volume/mix run-rate in the mid teens by the end of the year.
The bank forecasts L'Oreal's organic sales growth at 9.4% in the
fourth quarter and 15.6% in the full year, with margin at
19.6%.
"We expect a clear positive share price reaction, led by
consensus earnings upgrades and lack of inflation-related margin
worries given the operating leverage," says Citi.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 22, 2021 03:43 ET (07:43 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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