Coty (NYSE:COTY) posted mixed first-quarter results and reduced its full-year earnings outlook.

For the quarter, Coty reported adjusted earnings per share of $0.15, missing the analyst consensus of $0.20. Revenue rose 2% year-over-year to $1.67 billion, narrowly missing the expected $1.68 billion.

Coty’s Prestige segment showed resilience, with revenue up 5% on a reported basis and 7% like-for-like. However, the Consumer Beauty segment faced challenges, with a 3% decline on a reported basis and flat performance on a like-for-like basis.

For fiscal 2025, Coty lowered its earnings per share guidance to $0.54-$0.57, down from its prior range of $0.56-$0.60, and anticipates adjusted EBITDA growth near the lower end of its previous 9-11% target. Despite these adjustments, Coty maintained its free cash flow growth forecast in the low to mid $400 million range and reaffirmed its goal to reduce leverage below 3x by the end of 2024.