Estee Lauder posted its fiscal first quarter adjusted earnings of $1.37 per share, that exceeded the Zacks Consensus Estimate of $1.29 per share. Earnings were $1.89 per share a year ago (as reported in Zacks Equity Research)
The beauty company’s revenues for the quarter fell -11% from the year-ago period, but topped the Zacks Consensus Estimate by 0.34%. While net sales for the company’s skincare and makeup segments were down by -14% and -10% respectively, that of its hair care business had a +7% climb.
Revenues from the Americas had a -3% decline, while its businesses in Europe fell -5% and that in the Middle East & Africa (EMEA) and Asia-Pacific experienced -7% decrease.
In the fiscal second quarter, Estée Lauder projects its earnings per share to be between $1.14 and $1.26. It expects net sales growth in the range of +17% to +19% on a year-over-year basis.