Estee Lauder (EL) stock falls despite stronger Asia travel retail sales
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Estee Lauder (EL) Tops Q3 EPS by 48c; offers guidance
May 1, 2024 6:53 AM EDTEstee Lauder (NYSE: EL) 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 versus the consensus estimate of $3.91 billion.
GUIDANCE:
Estee Lauder sees Q4 2024 EPS of $0.19-$0.29, versus the consensus of... More
Estee Lauder tempers sales view despite US, China recovery
May 1, 2024 6:48 AM EDTBy Ananya Mariam Rajesh
(Reuters) -Estee Lauder lowered its annual organic sales estimate on persistent softness in mainland China's prestige beauty space, even as a demand rebound for its pricey items in the U.S. and Asia-Pacific markets drove a profit forecast raise.
Shares of the New York-based company dropped nearly 10% on Wednesday.
Estee also beat third-quarter results expectations, hinting at a recovery in demand for beauty and cosmetic products in the U.S. after a long bout of inflation had pressured... More
