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Estée Lauder Tops Third Quarter Forecasts

The luxury beauty conglomerate posted revenue of $2.86 billion in the period, which also beat Street forecasts.
Source: Estée Lauder
By
  • Associated Press

NEW YORK, United States — Estée Lauder Companies Inc on Wednesday reported fiscal third-quarter profit of $298 million.

The New York-based company said it had net income of 80 cents per share. Earnings, adjusted for restructuring costs, were 91 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The beauty products company posted revenue of $2.86 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $2.81 billion.

Estée Lauder expects full-year earnings in the range of $3.32 to $3.37 per share.

Estée Lauder shares have risen 14 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 7 percent. The stock has fallen almost 10 percent in the last 12 months.

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