Estee Lauder Guides FY24 Well Above Estimates - Update
(RTTNews) - While reporting financial results for the fourth quarter on Thursday, Estee Lauder Cos., Inc. (EL) initiated its earnings and adjusted earnings guidance for the full-year 2024, well above estimates, and provided outlook for the first quarter, well below estimates.
For the first quarter, the company expects a loss in a range of $0.34 to $0.23 per share and adjusted earnings in a range of $0.31 to $0.21 per share or $0.29 to $0.19 per share in constant currency, on reported and organic net sales decline of 12 to 10 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.99 per share on a revenue decline of 0.1 percent to $3.94 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2024, the company now projects earnings in a range of $3.43 to $3.70 per share and adjusted earnings in a range of $3.50 to $3.75 per share on reported net sales growth of 5 to 7 percent, with organic net sales growth of 6 to 8 percent.
The Street is looking for earnings of $3.36 per share on a sales decline of 10.9 percent to $15.81 billion for the year.
Separately, the company announced a quarterly dividend on the Company's Class A and Class B Common Stock of $0.66 per share, payable on September 15, 2023 to stockholders of record at the close of business on August 31, 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Estee Lauder Guides Q1, FY25 Well Below Estimates As Q2 Adj. EPS Misses View
Estee Lauder Slashes FY24 Outlook - Update
Estee Lauder Slashes FY24 Outlook - Update
Estee Lauder Slashes FY23 Earnings Outlook - Update
Estée Lauder Slashes FY23 Outlook; Boosts Dividend 10% - Update
Canadian Stocks Turning In Mixed Performance; TSX Down Marginally
U.S. Pending Home Sales Fall More Than Expected In July
