Estee Lauder (EL) Tops Q1 EPS by 32c; lowers outlook
Estee Lauder (NYSE: EL) reported Q1 EPS of $0.11, $0.32 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $3.52 billion versus the consensus estimate of $3.53 billion.
Fabrizio Freda, President and Chief Executive Officer said, “In the context of a quarter which we anticipated to be challenging, we delivered our organic sales outlook and exceeded expectations for profitability. Momentum continued in many developed and emerging markets around the world, where our organic sales grew strongly and we realized prestige beauty share gains. Encouragingly, we returned to growth in the U.S., with Fragrance, Makeup and Skin Care all contributing. This performance partially offset the pressures of Asia travel retail and a slower recovery of overall prestige beauty in mainland China."
Outlook for FQ2
Reported net sales are forecasted to decrease between 11% and 9% versus the prior-year period. Currency exchange rates are volatile and difficult to predict.
Adjusted diluted net earnings per common share are expected to decrease between 66% and 60% on a constant currency basis.
Sees adjusted EPS between $0.48 and $0.58 vs. consensus $1.25
Outlook for FY
Reported net sales are forecasted to range between a decrease of 2% and an increase of 1% versus the prior year.
Adjusted diluted net earnings per common share are expected to decrease between 33% and 25% on a constant currency basis
Sees adjusted EPS between $2.17 and $2.42 vs. consensus of $3.62
For earnings history and earnings-related data on Estee Lauder (EL) click here.