Estee Lauder Companies Inc. (EL) reported third-quarter net earnings attributable to the company of $130.4 million or $0.33 per share, an increase from $124.7 million or $0.31 per share earned a year ago.
On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.33 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter grew to $2.25 billion from $2.17 billion in the previous year. Fifteen analysts had a consensus revenue estimate of $2.25 billion for the quarter.
Looking forward to the fourth quarter, the company expects net earnings per common share, including charges associated with restructuring activities, to be $0.10 to $0.15. Net earnings per common share before charges associated with restructuring activities are projected to be $0.11 to $0.16. Net sales are forecasted to increase between 10% and 11% in constant currency. Analysts expect the company to earn $0.20 per share on revenues of $2.19 billion for the quarter.
For full year, the company projects net earnings per share, including charges associated with restructuring activities, to be $2.14 to $2.19. Net earnings per share before charges associated with restructuring activities are projected to be $2.21 to $2.26. Net sales are forecasted to grow approximately 10% in constant currency. Analysts expect the company to earn $2.24 per share on revenues of $9.65 billion for the year.
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