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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.

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