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 billion, in line with the company’s projections and 5% higher than the comparable year-ago period.
Read More : EL
No comments:
Post a Comment