Interparfums

IPAR

Market cap $2.9B

Interparfums is leveraging a capital-light, diversified fragrance licensing model, which should enable it to continue growing with the industry. IPAR stock faces near-term pressure from destocking, macro softness, and the Boucheron license expiration but maintains a robust brand portfolio and strong management. Long-term license risk persists, but management's portfolio diversification and strong balance sheet mitigate downside, supporting a $110 intrinsic value.

Among the largest contributors to Fund performance were Armstrong World Industries, Ingevity Corporation, and Graham Holdings Co. Graham Holdings outperformed the benchmark on strong second quarter results, led by solid growth in Kaplan Education and the continued expansion of its Healthcare segment. Among the largest detractors from Fund performance were Interparfums, Haemonetics Corporation, and White Mountains Insurance Group.

Interparfums specializes in producing fragrances for premium brands like Montblanc, Coach, and Jimmy Choo through long-term licensing agreements. The fragrance, beauty, and luxury market is experiencing a widespread slowdown, and IPAR has not been spared from this. The management expects 1% sales growth over the next two years and 5% EPS decrease, which has caused a 40% drop in the stock price.

IPAR sets cautious 2026 goals as it channels investment into emerging brands and major launches ahead of a stronger 2027 push.

NEW YORK, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Interparfums, Inc. (NASDAQ GS: IPAR) (“Interparfums” or the “Company”) today announced initial guidance for its fiscal year ending December 31, 2026.

Interparfums (IPAR) has quietly emerged as one of the most consistent performers in the luxury fragrance industry. The company designs, manufactures, and distributes perfumes and cosmetics for high-end and lifestyle brands including Coach, Jimmy Choo, and Montblanc.

The London Company Small Cap portfolio increased 1.9% gross (1.6% net) during the quarter vs. a 12.4% increase in the Russell 2000 Index. Armstrong World Industries' shares outperformed in the quarter due to beating expectations, driven by better-than-expected volumes, favorable positioning in key verticals, and strong operating leverage. Interparfums was a bottom holding as retailers are managing inventory more cautiously and the overall fragrance market has softened.

Interparfums, Inc. ( IPAR ) Q3 2025 Earnings Call November 6, 2025 11:00 AM EST Company Participants Jean Madar - Co-Founder, Chairman & CEO Michel Atwood - CFO & Director Conference Call Participants Karin Daly - The Equity Group, Inc. Sydney Wagner - Jefferies LLC, Research Division Susan Anderson - Canaccord Genuity Corp., Research Division Presentation Operator Greetings, and welcome to Interparfums Inc.'s 2025 Third Quarter Conference Call and Webcast. [Operator Instructions] As a reminder, this conference call is being recorded.

IPAR's third-quarter earnings beat estimates on higher sales and margins, but it cut 2025 outlook amid moderating demand.

Interparfums (IPAR) came out with quarterly earnings of $2.05 per share, beating the Zacks Consensus Estimate of $1.85 per share. This compares to earnings of $1.93 per share a year ago.