Achieves Best Quarterly Sales Performance in Company History; Reaffirms FY2024 Guidance
2024 Third Quarter Conference Call Scheduled for November 7, 2024
NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Interparfums, Inc. (NASDAQ GS: IPAR) ("Interparfums" or the "Company") today announced that for the three months ended September 30, 2024, net sales rose to a record $425 million, up 15% from $368 million in the third quarter of 2023.
| Net Sales ($ in millions) Data may not foot due to rounding | Three Months Ended | Nine Months Ended | ||||||||||||||||
| September 30, | September 30, | |||||||||||||||||
| 2024 | 2023 | % Change | 2024 | 2023 | % Change | |||||||||||||
| Total Interparfums, Inc. | $ | 425 | $ | 368 | 15 | % | $ | 1,091 | $ | 989 | 10 | % | ||||||
| European based net sales | $ | 282 | $ | 233 | 21 | % | $ | 739 | $ | 662 | 12 | % | ||||||
| United States based net sales | $ | 146 | $ | 134 | 9 | % | $ | 362 | $ | 327 | 11 | % | ||||||
| Eliminations of intercompany sales | $ | (4 | ) | - | n/a | $ | (11 | ) | - | n/a | ||||||||
| - The average dollar/euro exchange rate for the 2024 third quarter was 1.10 compared to 1.09 in the 2023 third quarter, while for the first nine months of 2024, the average dollar/euro exchange rate was 1.09, compared to 1.08 in the first nine months of 2023, leading to a positive 0.4% and 0.2% foreign exchange impact for the third quarter and first nine months of 2024, respectively. - Eliminations of intercompany sales relate to European based operations product sales to United States based operations. | ||||||||||||||||||
Management Commentary:
Jean Madar, Chairman & Chief Executive Officer of Interparfums, stated, "Sales in the current third quarter were the highest for any quarter in our history. The ongoing strength of the global fragrance market, the solid performance of our largest brands, and the addition of...
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