Estee Lauder reported strong financial results for the third quarter of fiscal year 2024, surpassing Wall Street expectations with an adjusted EPS of $0.97, significantly higher than the estimated $0.48. The company's revenue reached $3.94 billion, slightly above the forecast of $3.91 billion. Notably, Estee Lauder raised its full-year adjusted EPS forecast to $2.14 to $2.24, up from the previous range of $2.08 to $2.23. The company also adjusted its full-year EPS forecast to $1.96 to $2.09. This financial uplift is attributed to a recovery in demand in the US and China, particularly in the skincare segment, which saw a significant jump. Additionally, Estee Lauder's performance was bolstered by strong sales in the EMEA region, particularly through travel retail, and modest growth in the Americas and APAC regions. The company reported a 5.9% organic sales growth and a 75% increase in non-GAAP EBIT.
Estée Lauder $EL Earnings: - Diluted EPS of $0.91 - Adjusted Diluted EPS of $0.97 - Revenue of $3.94 billion (+5% YoY) - Organic net sales growth of 6% YoY Fabrizio Freda, President and Chief Executive Officer said, “For the third quarter of fiscal 2024, we delivered our… https://t.co/GiehxnEu2u
Estée Lauder $EL FY24Q3 call (live thread) CEO Section 1/ Gross Margin helped by better-than-expected Skincare mix 2/ Reiterates FY24H1 will be an "inflection point" 3/ FY24H2 Non-GAAP EBIT margin to be higher y/y, q/q https://t.co/9xfBDg0mbR
$EL (-4.6% pre) Estee Lauder tempers sales view despite US, China recovery https://t.co/iJiyOPfs2m
Estee Lauder $EL tops quarterly estimates on stronger Asia travel retail sales https://t.co/ZRDsoYqy8U https://t.co/h7d8nJxIjK
Estee Lauder lifts annual profit view on US, China demand recovery https://t.co/lsGke0qcOF https://t.co/zXp4FRqsZN
Estee Q includes modest sales guide-down & (as usual) not guiding up despite big earnings beat. That said main takeaway is jump in skincare, which bodes well. Sector boom in fragrance & $EL lack of presence has magnified weakness vs L'Oreal & LVMH. $LRLCY $LVMUY
Estée Lauder $EL FY24Q3 results Sales +5.9% organic, incl: Americas +1% (N America flat) EMEA +12% (Travel Retail up "strong double digits") APAC +3% (Mainland China up "low single digits") Sales +5.0% in $ Non-GAAP EBIT +75% Non-GAAP EPS $0.97 (PY: $0.47) FY24 sales guide… https://t.co/RiKfNB19SQ
⚠️ ESTEE LAUDER LIFTS ANNUAL PROFIT VIEW ON US, CHINA DEMAND RECOVERY Full Story → https://t.co/vI9600o8an Estee Lauder raised its annual profit forecast and beat Wall Street targets for third-quarter sales on Wednesday, as demand for the MAC lipstick maker's higher-priced… https://t.co/KRZvsEfOvZ
$EL | Estee Lauder Q3 24 Earnings: - Adj EPS: $0.97 (est $0.48) - Revenue: $3.94B (est $3.91B) - Sees FY Adj EPS $2.14 To $2.24, Saw $2.08 To $2.23 - Sees FY EPS $1.96 To $2.09, Saw $2.04 To $2.20