Natura &Co Holding S.A. American Depositary Shares (each representing two Common Shares)

NTCO

Market cap $4.54B

Natura, the Brazilian cosmetics giant, revealed its quarterly earnings report on Thursday showing disappointing data and causing concerns in the financial sector. Key data, particularly those related to core operations, came in considerably below analysts' expectations.

Natura &Co Holding S.A. (OTC:NTCOY) Q4 2023 Earnings Conference Call March 12, 2024 8:00 AM ET

Fiscal Year registered positive net cash of BRL 1.7 billion Net income reached BRL 3.0 billion, of which BRL 979 million will be distributed as dividends SÃO PAULO, March 12, 2024 /PRNewswire/ -- Natura &Co's (B3:NTCO3) 2023 financial results, released today, reflect the benefits of a strategy defined and implemented 18 months ago, to prioritize profitability and cash conversion versus revenue growth, integrate the Natura and Avon brands in Latin America, and divest non-core assets to deleverage and simplify its corporate structure. Natura &Co's 2023 consolidated net revenue reached BRL 26.7 billion in the year, up 3.5% vs 2022 in constant currency (CC) and down 8.5% year-on-year in Brazilian Reais (BRL).

Natura & Co. said late Monday that its executives are exploring splitting its Natura and Avon businesses into two publicly traded beauty-products companies “to unlock further shareholder value.”

Natura &Co will consider separating its Natura business from the Avon brand, creating two separate publicly traded beauty companies.