Coty announced its results for the second quarter of fiscal year 2026, ended December 31, 2025. Coty delivered Q2 results broadly in line with expectations, while significantly reducing its net debt and leverage to the lowest level in close to a decade.

Markus Strobel, Executive Chairman and Interim CEO, commented,

“In my first month in the role, having visited our largest markets and key sites, it’s very clear to me that Coty has many top-notch assets and competitive advantages: highly attractive brands, best-in-class fragrance innovation capabilities, a vertically integrated business model, and a creative, entrepreneurial organization.”

Compared to the year prior, three-month net revenue increased 1% to $1,678.6 million, which included a 4% benefit from foreign exchange (FX). On a like-for-like (LFL) basis, net revenue declined 3%.

Prestige net revenue of $1,133.6 million, representing 68% of the company’s total sales, increased 2% on a reported basis and declined 2% on a LFL basis. Consumer Beauty’s net revenue of $545.0 million, representing 32% of the Company’s total sales, decreased 2% on a reported basis and 6% on a LFL basis.

Strobel added, 

“To step-change our performance and channel our strengths, we are initiating our “Coty. Curated.” strategic framework, encompassing sharper priorities, more focused investments, improved execution, and increased support behind our core businesses. These actions are anchored in consumer demand and a relentless focus on sell-out and market share. In parallel, we are continuing our portfolio review to identify opportunities to unlock shareholder value in both the near and long term, complemented by other value-driving opportunities, such as our recent divestiture of our remaining stake in Wella at the end of CY25, delivering on our commitment.”

Six-month net revenue reached $3,255.8 million this year, a 3% decrease from the year prior. 

Prestige net revenue of $2,203.1 million, representing 68% of the company’s total sales, decreased 1% on a reported basis and declined 4% on a LFL basis. Consumer Beauty net revenue of $1,052.7 million, representing 32% of the company’s total sales, decreased 5% on a reported basis and 8% on a LFL basis.

Given the complex beauty market and Coty’s leadership transition, Coty is withdrawing its prior FY26 guidance for EBITDA and free cash flow, and is providing guidance solely for Q3.

Coty expects LFL Q3 revenues to decline by a mid-single-digit percentage, primarily due to a weakening in Consumer Beauty sales trends.

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