Cognac maker Remy Cointreau first-quarter sales up 5.7%, beating forecast

French cognac company Remy Cointreau RCO reported a 5.7% rise in first-quarter organic sales on Friday, well ahead of analyst expectations of 2.3% growth.

The result marked the first quarter of sales growth since early 2023 for the maker of Remy Martin cognac and Cointreau liqueur, which has been battling with spiralling sales in its key U.S. and Chinese markets.

Remy said the rise was driven by a low base of comparison versus a year ago in the United States.

The company has also faced tariffs from both the U.S. and China, with steep duties imposed in China since October 2024. These were reduced as part of a deal between the industry and authorities in July, easing Remy's pain.

Remy said that, as a result, it now expects its full-year operating profit to decline by mid- to high-single digits, an improvement on the mid- to high-teen decline it had previously anticipated.