logo
Plus   Neg
Share
Email

Estée Lauder Q4 Profit Tops Estimates; Projects Strong Growth In FY20

The Estée Lauder Companies Inc. (EL) said, adjusting for restructuring and other charges and adjustments, and excluding the impact of currency translation and the adoption of ASC 606, the company's fourth-quarter net sales increased 12% and earnings per share rose 15% from a year ago.

For the fourth-quarter, adjusted earnings per share was $0.70 compared to $0.61, prior year. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $0.53, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter net sales were $3.59 billion, compared to $3.30 billion, last year. Analysts expected revenue of $3.53 billion for the quarter.

For the first-quarter, the company expects reported net sales to increase between 9% and 10%. On a constant currency basis, before items, earnings per share are expected to increase between 10% and 12%, to a range of $1.56 and $1.59. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.55.

For fiscal 2020, reported net sales are forecasted to increase between 7% and 8%. On a constant currency basis, before items, earnings per share are expected to increase between 9% and 11%, to a range of $5.90 and $5.98. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.81.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Trade Commission said it will challenge the proposed merger between two Philadelphia-area hospital systems as the deal could reduce competition, resulting in raised prices in both Philadelphia and Montgomery counties. The FTC issued an administrative complaint to block the proposed merger of Jefferson Health and Albert Einstein Healthcare Network. Step2 Co. LLC recalled about 20,500 units of Little Helper's children's grocery shopping carts for possible laceration hazard, the U.S. Consumer Product Safety Commission said in a statement. These include about 3,500 units sold in Canada. The company said the shopping cart's basket can break into sharp pieces, leading to a laceration hazard. Wendy's Co. joined the growing list of fast-food chains that are launching plant-based meat options. The fast food chain has introduced "The Plantiful," a plant-based burger, at its restaurants across Canada. Wendy's said it formulated its own recipe in-house, unlike other fast-food chains who have relied on Beyond Meat or Impossible Foods to introduce their plant-based meat alternatives.
RELATED NEWS
Follow RTT
>