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Inter Parfums (IPAR) Raises 2021 View Again on Solid Demand
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Inter Parfums, Inc. (IPAR - Free Report) raised its 2021 guidance yet again, on strength in its European operations, despite continued supply chain disruptions. Prior to this, management raised its full-year view when it released third-quarter sales numbers.
Let’s Take a Closer Look
Inter Parfums now projects net sales of $840 million for 2021. Earnings per share (EPS) for the same period are envisioned to be $2.45. Management had earlier anticipated 2021 net sales to be $810 million, while net income per share was expected to be $2.35. Inter Parfums is impressed with increased deliveries in recent weeks stemming from sustained customer demand across its European operations.
Despite better-than-anticipated growth in the past few months, the company is reiterating its 2022 guidance owing to the lack of visibility. The company expects 2022 net sales in the range of $925-$950 million. EPS for the same period are expected between $2.80 and $2.85. The midrange of 2022 guidance projects 16% growth in net sales and 20% increase in EPS compared with 2021’s estimated levels.
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In a recent press release, management had highlighted that growth in 2022 net sales is likely to be driven by the introduction of new brands like Ferragamo, Donna Karanand and DKNY. Product rollouts for Moncler, Moncler Pour Homme and Moncler Pour Femme in the starting of next year is likely to be an upside. New men’s fragrance pillars launching for Coach, GUESS and Boucheron, among other releases, bode well. Inter Parfums expects a restart in international travel to revive its duty-free/travel retail business. Management anticipates reduction in supply chain disruptions. In addition, a modest rise in prices effective from 2022 will contribute to growth.
What Else is Working for Inter Parfums?
Inter Parfums is on track to expand its business through new licenses or acquisitions. Recently, the company finalized the agreement with Salvatore Ferragamo S.p.A. Per the agreement, Inter Parfums holds the exclusive worldwide license for the production and distribution of Salvatore Ferragamo brand perfumes. In September, Inter Parfums entered into a long-term global licensing agreement with G-III Apparel Group, Ltd. — to create, develop as well as distribute fragrances and related items under well-known brands like DKNY and Donna Karan.
The company is gaining on its strategic partnerships with Origines-parfums and Moncler SpA. In July 2020, Inter Parfums’ majorly-owned subsidiary Interparfums SA acquired 25% of Divabox’s capital. Notably, Divabox is the owner of Origines-parfums, which is a renowned French company in the online beauty market. The deal enhances Inter Parfums’ fragrance line and product range as well as boosts digital development, courtesy of Origines-parfums’ solid customer expertise. Prior to this, Interparfums SA signed an agreement with renowned luxury brand Moncler SpA in June 2020. The deal gave Inter Parfums rights to fragrance-related items in Monclermono brand stores along with few other specialty shops, department stores and duty-free shops.
The Zacks Rank #1 (Strong Buy) stock has rallied 34.4% in the past three months against the industry’s decline of 16.5%.
MGP Ingredients, the producer and supplier of distilled spirits and specialty wheat proteins and starch food ingredients, currently sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained 34.3% in the past three months. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MGP Ingredients’ current financial-year sales and EPS suggests growth of 55.5% and 61.4%, respectively, from the year-ago period’s figures. MGPI has a trailing four-quarter earnings surprise of 117.6%, on average.
The Hain Celestial, which provides various natural and organic foods as well as personal care products in North America and Europe, carries a Zacks Rank #2 (Buy) at present. HAIN has a trailing four-quarter earnings surprise of 9.7%, on average. Shares of the company have moved up 2.5% in the past three months.
The Zacks Consensus Estimate for The Hain Celestial’s current financial-year EPS suggests growth of 14.5% from the year-ago period’s reported number.
The J. M. Smucker is a leading marketer and manufacturer of consumer food and beverage products and pet food and pet snacks in North America. It currently carries a Zacks Rank #2. SJM has a trailing four-quarter earnings surprise of 10.8%, on average. Shares of the company have gained 7.9% in the past three months.
The Zacks Consensus Estimate for The J. M. Smucker’s current financial-year sales suggests growth of 0.1% from the year-ago period’s reported figures. SJM has an expected EPS growth rate of 1.2% for three-five years.
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Inter Parfums (IPAR) Raises 2021 View Again on Solid Demand
Inter Parfums, Inc. (IPAR - Free Report) raised its 2021 guidance yet again, on strength in its European operations, despite continued supply chain disruptions. Prior to this, management raised its full-year view when it released third-quarter sales numbers.
Let’s Take a Closer Look
Inter Parfums now projects net sales of $840 million for 2021. Earnings per share (EPS) for the same period are envisioned to be $2.45. Management had earlier anticipated 2021 net sales to be $810 million, while net income per share was expected to be $2.35. Inter Parfums is impressed with increased deliveries in recent weeks stemming from sustained customer demand across its European operations.
Despite better-than-anticipated growth in the past few months, the company is reiterating its 2022 guidance owing to the lack of visibility. The company expects 2022 net sales in the range of $925-$950 million. EPS for the same period are expected between $2.80 and $2.85. The midrange of 2022 guidance projects 16% growth in net sales and 20% increase in EPS compared with 2021’s estimated levels.
In a recent press release, management had highlighted that growth in 2022 net sales is likely to be driven by the introduction of new brands like Ferragamo, Donna Karanand and DKNY. Product rollouts for Moncler, Moncler Pour Homme and Moncler Pour Femme in the starting of next year is likely to be an upside. New men’s fragrance pillars launching for Coach, GUESS and Boucheron, among other releases, bode well. Inter Parfums expects a restart in international travel to revive its duty-free/travel retail business. Management anticipates reduction in supply chain disruptions. In addition, a modest rise in prices effective from 2022 will contribute to growth.
What Else is Working for Inter Parfums?
Inter Parfums is on track to expand its business through new licenses or acquisitions. Recently, the company finalized the agreement with Salvatore Ferragamo S.p.A. Per the agreement, Inter Parfums holds the exclusive worldwide license for the production and distribution of Salvatore Ferragamo brand perfumes. In September, Inter Parfums entered into a long-term global licensing agreement with G-III Apparel Group, Ltd. — to create, develop as well as distribute fragrances and related items under well-known brands like DKNY and Donna Karan.
The company is gaining on its strategic partnerships with Origines-parfums and Moncler SpA. In July 2020, Inter Parfums’ majorly-owned subsidiary Interparfums SA acquired 25% of Divabox’s capital. Notably, Divabox is the owner of Origines-parfums, which is a renowned French company in the online beauty market. The deal enhances Inter Parfums’ fragrance line and product range as well as boosts digital development, courtesy of Origines-parfums’ solid customer expertise. Prior to this, Interparfums SA signed an agreement with renowned luxury brand Moncler SpA in June 2020. The deal gave Inter Parfums rights to fragrance-related items in Monclermono brand stores along with few other specialty shops, department stores and duty-free shops.
The Zacks Rank #1 (Strong Buy) stock has rallied 34.4% in the past three months against the industry’s decline of 16.5%.
3 Staple Picks
Some other top-ranked stocks in the Consumer Staples sector are MGP Ingredients (MGPI - Free Report) , The Hain Celestial Group (HAIN - Free Report) and The J. M. Smucker Co. (SJM - Free Report) .
MGP Ingredients, the producer and supplier of distilled spirits and specialty wheat proteins and starch food ingredients, currently sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained 34.3% in the past three months. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MGP Ingredients’ current financial-year sales and EPS suggests growth of 55.5% and 61.4%, respectively, from the year-ago period’s figures. MGPI has a trailing four-quarter earnings surprise of 117.6%, on average.
The Hain Celestial, which provides various natural and organic foods as well as personal care products in North America and Europe, carries a Zacks Rank #2 (Buy) at present. HAIN has a trailing four-quarter earnings surprise of 9.7%, on average. Shares of the company have moved up 2.5% in the past three months.
The Zacks Consensus Estimate for The Hain Celestial’s current financial-year EPS suggests growth of 14.5% from the year-ago period’s reported number.
The J. M. Smucker is a leading marketer and manufacturer of consumer food and beverage products and pet food and pet snacks in North America. It currently carries a Zacks Rank #2. SJM has a trailing four-quarter earnings surprise of 10.8%, on average. Shares of the company have gained 7.9% in the past three months.
The Zacks Consensus Estimate for The J. M. Smucker’s current financial-year sales suggests growth of 0.1% from the year-ago period’s reported figures. SJM has an expected EPS growth rate of 1.2% for three-five years.