From CNBC: 2024-05-01 16:47:22

Estee Lauder stock fell on weak Q4 outlook despite strong Q3 numbers. Revenue rose 5% to $3.94 billion, beating $3.91 billion estimate. Organic sales increased 6%, above 5% expected. Adjusted EPS doubled to 97 cents, beating 49 cents estimate. CEO expects improvement in profit and margins. Stock rated 1 with $162 price target.
Estee Lauder expects sales to rise 5-9% in Q4, below analyst expectations. Organic sales projected to grow 6-10%. Adjusted earnings outlook lowered to 19-29 cents from 75 cents. Full year 2024 sales down 2-3%, but earnings outlook raised. Profit Recovery Plan on track, aiming for $1.1-$1.4 billion increase in operating income by fiscal 2026.
Estee Lauder’s Profit Recovery Plan shows signs of success, with operating income exceeding expectations. Skincare business sees 9% organic growth. Recovery in Asia boosts makeup sales by 4% organically. Fragrance up 1% organically, led by luxury brands growth. Americas flat, Asia/Pacific sales rise due to skincare and fragrance growth.



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