Estee Lauder (EL,$184.71) shares decline, on...

Abhoy Sarkar

published in Blogs

Oct 31, 2019

Estee Lauder (EL,$184.71) shares decline, on lower-than-expected guidance, despite earnings beat

Estee Lauder shares declined on Thursday, after the cosmetics & skincare company reported better-than-anticipated earnings, but provided guidance below expectation.

For the three months ended Sept. 30, the company’s earnings came in at $1.61 a share, exceeding the $1.60 a share expected by analysts. The figure is also higher than the year-ago quarter’s $1.34 a share.

Revenue of $3.9 billion is up from $3.5 billion a year ago. It is also higher than analysts' forecasts.

CEO Fabrizio Freda indicated that strong international sales, particularly in China and other emerging markets, as well as within the company's skin care category, travel retail and online channels bolstered earnings for the quarter.

However, Estee Lauder now expects second-quarter earnings per share in the range of $1.83 to $1.86, and full-year per-share earnings of $5.85 to $5.93 - both the ranges are below analysts' forecasts. The company is cautious about potential global uncertainties like those related to the U.S.-China trade war, Brexit, and currency volatility. Also, it will be taking charges associated with previously approved restructuring and other activities of around $110 million to $125 million in fiscal, equal to between 24 cents and 27 cents a share – as indicated by the company.

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Abhoy Sarkar

published in Blogs

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