Coty Slides After Pulling Fiscal 2026 Guidance

Coty Inc. shares slid after the mass-market beauty company scrapped its fiscal 2026 outlook and warned of a weaker-than-anticipated third quarter.

The New York-based company, whose brands include CoverGirl and Sally Hansen, withdrew its prior fiscal 2026 guidance for EBITDA and free cash flow, citing its leadership transition and a “complex beauty market backdrop.” Coty had said in November it was targeting $1 billion in adjusted EBITDA for the fiscal year and free cash flow of $350 million in the first half.