01.05.23
In light of better-than-expected fourth quarter sales, Inter Parfums, Inc. is raising its guidance for the year ended December 31, 2022, the company announced Wednesday.
The company is 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.
The company said management is seeking out a 23% increase in net sales and a 31% increase in diluted earnings per share as compared to 2021. Final 2022 sales are slated for announcement by on January 23, with full year results on February 28, 2023.
“The final quarter of the year was exceptionally strong for both our US- and European-based operations,” said Chairman and CEO Jean Madar in a statement. “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.”