Estee Lauder tempers sales view despite US, China recovery
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Estee Lauder (EL) stock falls despite stronger Asia travel retail sales
May 1, 2024 7:15 AM EDT(Updated - May 1, 2024 11:46 AM EDT)
Estee Lauder (NYSE: EL) shares plunged more than 11% premarket as its earnings and revenue topped consensus expectations, but guidance fell short of consensus estimates.
The beauty products company reported Q3 EPS of $0.97, $0.48 better than the analyst estimate of $0.49. Revenue for the quarter came in at $3.94 billion, up 5% year-on-year and above the consensus estimate of $3.91 billion.
The company said its organic net sales increased 6% primarily due to double-digit growth in... More
