Estee Lauder shares fall as pandemic curbs makeup usage newsday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.com Daily Mail and Mail on Sunday newspapers.
Estee Lauder Tops Earnings Forecast, Notes Weaker Cosmetics Demand
Estee Lauder said skin care and fragrance growth offset weakening demand for cosmetics in the waning months of the global coronavirus pandemic.
Author:
Original:
Estee Lauder (
EL) - Get Report posted stronger-than-expected third quarter earnings but noted that demand for make-up remains soft in the closing months of the global pandemic as customers continue to work from home and socialize in small groups.
Estee Lauder said non-GAAP earnings for the three months ending in March, the group s fiscal third quarter, were pegged at $1.62 per share, up 90.5% from the same period last year and firmly ahead of the Street consensus forecast of $1.32 per share. Group revenues, however, rose 16% to $3.86 billion but missed analysts estimates of a $3.94 billion tally.
Brendan Caldwell s Top Picks: May 3, 2021
Stocks pare gains into close as Nasdaq 100 drops
Chasing red-hot profit growth is a recipe for stock-market pain
Stocks that soared on COVID treatments are coming back to Earth
Eric Nuttall s Top Picks: April 30, 2021
Stocks pare biggest monthly rally since November
Doing the right thing pays off for ethical investors
How to build a portfolio that outperforms for a century
Jaime Carrasco s Top Picks: April 29, 2021
Stephen Takacsy s Top Picks: April 28, 2021
Varun Anand s Top Picks: April 27, 2021
Tech weighs on U.S. stocks ahead of megacap earnings
Jamie Murray s Top Picks: April 26, 2021
JPMorgan is preparing to offer a bitcoin fund to wealthy clients
The cosmetics and beauty company reports a better-than-expected profit.
Estee Lauder Companies now forecasts an up to 12% growth in sales this year.
Estee Lauder Companies Inc. (NYSE: EL) said on Monday its sales fell shy of Wall Street estimates in the fiscal third quarter. The company, however, reported a better-than-expected quarterly profit.
1. Financial performance
Estee Lauder said that its net income in the third quarter printed at £328.75 million that translates to 89 pence per share. In the same quarter last year, it had posted £4.33 million of net loss or 1.44 pence per share.
Are you looking for fast-news, hot-tips and market analysis?