Estee Lauder tops earnings estimates and raises outlook
Estee Lauder Cos. shares rose 1.1% in premarket trade Friday, after the cosmetics, hair and skin care company reported stronger-than-expected earnings for its fiscal second quarter and raised its guidance. The company said it had net income of $123 million, or 33 cents a share, in the quarter, down from $428 million, or $1.15 a share, in the year-earlier period. The number includes a one-time charge of $1.05 a share from the impact of the U.S. tax reform signed into law in December. Adjusted per-share earnings came to $1.52, ahead of the FactSet consensus of $1.44. Sales rose to $3.74 billion from $3.21 billion, also ahead of the FactSet consensus of $3.67 billion. The company is now expecting fiscal 2018 sale to rise 12.5% to 13.5% and expects adjusted EPS of $4.27 to $4.32, compared with a current FactSet consensus of $4.20. Shares have gained 64% in the last 12 months, while the S&P 500 has gained 24%.
Source : MTV
