Rémy Cointreau Beats Third Quarter Forecasts as Sales in the Americas Drive Return to Growth
French spirits group Rémy Cointreau returned to growth in the third quarter. Strong sales in the Americas beat forecasts and offset continued weakness in China.
Insights:
Rémy Cointreau SA reported that its third-quarter organic sales rose 2.8% to 245.8 million euros, surpassing the 1.7% growth expected by a company-compiled analyst consensus. The results represent a significant shift for the spirits manufacturer, marking a return to growth after consecutive quarterly declines that have plagued the company since 2023. The performance was largely supported by solid sales in the Americas region, which helped the firm beat market expectations.
Investors responded positively to the announcement, sending shares in Rémy Cointreau SAup 8.5% in early trade on Thursday. By 11:30 GMT, the stock remained almost 4% higher, providing some recovery for a share price that has fallen by around 30% from a year ago. Market analyst Ryann Dean ryann deannoted that investor sentiment in the alcohol sector has been very weak, meaning even modest improvements can result in sharp share price movements.
