Estée Lauder (EL) Beat Q3 EPS View; Shares Dip as Traders Expected Larger Outlook Boost
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Shares of Estée Lauder (NYSE: EL) are indicated lower amid seemingly decent third-quarter results, issued earlier.
Sales rose 5 percent on a constant-currency basis from $2.17 billion in the same period last year to $2.25 billion, and compared with views expecting $2.25 billion.
Net income popped 5 percent as well to $130.4 million, or 33 cents per share. Exclude restructuring charges and EPS came in at a more robust 38 cents, versus views calling for 33 cents per share.
Initial weakness might be due in part to lower reported earnings in Asia/Pacific and EMEA (Europe, Middle East, & Africa), which fell 14 percent and 13 percent, respectively. Estée Lauder also noted it gained market share in Europe and at some locations in Asia-Pacific.
Looking ahead, the company said it raised its fiscal 2012 earnings outlook from a range of $2.16 - $2.23 to a new range of $2.21 - $2.26. The Street is currently looking for EPS of $2.24, meaning a boost might've already been in the works.
Shares are nearly 5 percent lower ahead of the bell Friday.
Sales rose 5 percent on a constant-currency basis from $2.17 billion in the same period last year to $2.25 billion, and compared with views expecting $2.25 billion.
Net income popped 5 percent as well to $130.4 million, or 33 cents per share. Exclude restructuring charges and EPS came in at a more robust 38 cents, versus views calling for 33 cents per share.
Initial weakness might be due in part to lower reported earnings in Asia/Pacific and EMEA (Europe, Middle East, & Africa), which fell 14 percent and 13 percent, respectively. Estée Lauder also noted it gained market share in Europe and at some locations in Asia-Pacific.
Looking ahead, the company said it raised its fiscal 2012 earnings outlook from a range of $2.16 - $2.23 to a new range of $2.21 - $2.26. The Street is currently looking for EPS of $2.24, meaning a boost might've already been in the works.
Shares are nearly 5 percent lower ahead of the bell Friday.
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