Estee Lauder (NYSE: EL) reported Q1 EPS of $1.89, $0.20 better than the analyst estimate of $1.69. Revenue for the quarter came in at $4.39 billion versus the consensus estimate of $4.25 billion.

Fabrizio Freda, President and Chief Executive Officer said, “We delivered excellent performance to begin fiscal 2022, despite the increased volatility and variability globally during the quarter, by virtue of our dynamic multiple engines of growth strategy. Our growth engines increasingly diversified, as we expected. Makeup, developed markets in the West, and brick-and-mortar reignited and complemented momentum in Skin Care, Fragrance, mainland China, Travel Retail in Asia/Pacific, and global Online2. Impressively, relative to the pre-pandemic first quarter of fiscal 2020, the overall business is much bigger and more profitable.

GUIDANCE:

Estee Lauder sees Q2 2022 EPS of $2.51-$2.61, versus the consensus of $2.81.

Estee Lauder sees FY2022 EPS of $7.09-$7.30, versus the consensus of $7.44.

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