The management of Estee Lauder Companies Inc. (EL) must be
glowing, to say the least, when it announced first quarter (1Q) financial
results for the company’s 2014 fiscal year (FY14). The manufacturer of prestige
beauty products kicked off the new year with better-than-expected earnings in
the first quarter, and has thereafter brushed up its profit outlook for the
remaining nine months as well.
Estee Lauder’s
per share earnings (EPS) for 1QFY14 bested both analyst estimates and
company guidance. Even though EPS was three cents lower year-over-year (YoY) at
$0.76, the announcement came as a positive surprise, given that the management
had forecast per share earnings to fall in the range of $0.67 and $0.71, while
consensus estimates for EPS were $0.73. Net sales for the quarter totaled $2.68. Read more.
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