The Estée Lauder Companies Reports Fiscal 2020 Third Quarter Results
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Estee Lauder (EL) Tops Q3 EPS by 13c, Revenues Beat
May 1, 2020 6:47 AM EDTEstee Lauder (NYSE: EL) reported Q3 EPS of $0.86, $0.13 better than the analyst estimate of $0.73. Revenue for the quarter came in at $3.35 billion versus the consensus estimate of $3.05 billion.
Fabrizio Freda, President and Chief Executive Officer said, While the terrific double-digit momentum in sales growth from the first half of our fiscal year carried into January, the dynamics in the quarter changed significantly as COVID-19 spread beyond Asia. By early March, consumers around the world began social distancing which resulted in lower traffic in retail locations. As March evolved, most retail stores temporarily closed and... More
