Estee Lauder Cos. (EL) reported first quarter net earnings of $0.71 per share Friday morning, up from the $0.26 posted last year. Excluding returns and charges, net earnings per share rose to $0.85. The consensus estimate was for EPS of $0.34.
The company expects to report second quarter EPS of $0.80 to $0.87 and full year 2010 EPS of $1.95 to $2.10. The consensus estimates are for EPS of $0.85 and $1.79 respectively.
Estee Lauder gapped up sharply Friday and has continued to rise in early trade. Shares are now higher by 4.20 at $45.34. The stock has broken out of a 2-week range and has set a new high for the year.
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